Converting Bears into Bulls: Current Market Strength a Good Signal
June 9, 2023 - A robust employment report and strong corporate earnings combined with the recent debt ceiling negotiations that took that fear of a default off the table have injected new life into the stock market. In the first 100 days of 2023, the S&P 500 returned 8.1%, and now that data is around 12%. “That continues to be a good start,” says Chief Global Strategist Rick Pitcairn in this month’s Market in Five Charts. “It’s rare to see markets have a weak back half of the year when they have a strong start.” But this is a tremendously narrow market led by a few big names.