The record-setting first half of 2021 paves the way for the S&P 500 to return 10% by the end of the year, LPL Financial says

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  • Date: 01-Jul-2021
  • Source: Business Insider
  • Sector: Financial Markets
  • Country: Gulf
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The record-setting first half of 2021 paves the way for the S&P 500 to return 10% by the end of the year, LPL Financial says

The second half of 2021 holds the potential for a strong return for the after a strong first six months pushed the gauge above a historically favorable threshold, according to one equity strategist. The index rose by a hefty 14.4% from the start this year through Wednesday which marked the end of the second quarter. When its advance is greater than 12.5% in the first six months of a year, the S&P 500 usually records a median return of 9.7%, which is nearly twice the median return of 5% for any given year, according to LPL Financial. A "good start to a year is usually a good sign for the rest of the year," said Ryan Detrick, chief market strategist at LPL, in a note published Thursday, the first trading day for the second half of 2021. The S&P 500 rose during Thursday's session after closing at a fresh record on Wednesday at 4,297.50. The index in April cracked through the 4,000 level for the first time, continuing its push higher after a March 2020 crash triggered by fears stemming from the COVID-19 crisis. So far this year, energy has been the best performing of the index's 11 sectors, rising

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