A big start for stocks in the first six months of 2023 could be a signal that even bigger things are on the way for the rest of the year.
Historically, a positive first half has led to gains in the second half 72% of the time, above the normal 69% rate in data cited by CFRA that goes back to 1945.
However, history also has shown that the stronger the start, the stronger the finish.
The scenario has seen gains 82% of the time.
"With this year's S & P 500 gain of nearly 15% YTD through June 16, history suggests investors hold onto their hats, since a stellar H2 may be in order," Sam Stovall, CFRA's chief investment strategist, said in a client note Tuesday.
Persons:
CFRA, that's, Sam Stovall