Read the full article on Investing.com.
Excerpt:
Who knew that the big risk this year was a US economy that would be too hot? Coming into 2023, strategists were bearish following the market’s drubbing the previous year. The consensus expectation was that it would be a tough first half followed by second-half resilience as the Fed got its way in the form of declining inflation.
That narrative didn’t play out exactly. An unforeseen regional banking crisis in March brought out new fears of an imminent recession and tumbling interest rates. Fear was short-lived and confined, however. The Nasdaq went on to post its best first half in 40 years as mega-cap tech stock powered higher amid optimism surrounding AI, while small caps and value equities lagged.
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