Halfway into 2023, and so little on Wall Street has gone according to plan
. The S&P 500 has climbed roughly 14% as one of the most-predicted and longest awaited recessions in history has yet to appear. NEW YORK — — Halfway into 2023, little on Wall Street has gone according to plan.
As Wall Street looks toward the back half of 2023 and beyond, it's stuck in a sort of purgatory. Many investors are still An economy that avoids a recession would support corporate profits, which are the lifeblood of the stock market. It could also broaden out the market's gains. Plus, more money is sitting on the sidelines in cash that could get invested, which offers potential fuel for the stock market. Nearly $2 trillion is in retail money-market funds held by the general public, not including $3.44 trillion more held by institutions. That’s up 11% in just four months, according to the Investment Company Institute.Yes, the economy has avoided a recession because of a strong job market.
The Fed has pulled its benchmark rate up by a mammoth 5 percentage points from virtually zero at the start of last year, which has already helped cause several U.S. bank failures.
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