While the possibility of a Chinese invasion of Taiwan and another pandemic is undoubtedly worrisome, it seems that the collapse of the commercial real estate market may be a more pressing concern at the moment.Īccording to the U.S. “Regardless of if the Fed hikes another 25 or 50 over the next few months,” she said, “it appears that the economy and employment … have been and are likely to be resilient.” Plus, with the pace of inflation moderating and investors starting to embrace the mantra that inflation is under control, Gabriele predicts they’ll feel more confident about buying stocks, fueling some upside. When these “less trendy” sectors start to perform better and the market breadth broadens, this is generally positive for the overall stock market. “It makes sense that the worst-performing sectors thus far this year - energy, utilities, healthcare, financials and consumer staples - could be recipients of some of this cash,” Gabriele said. While some investors may follow the booming tech and AI trend and invest in related stocks, Gabriele predicts that some conservative investors may pour their cash into stocks with lower valuations and potentially better risk/reward instead, thereby broadening the depth of the stock market rally. “The breadth of the upside this year has been concentrated in tech and artificial intelligence stocks,” she said, “and it is likely that momentum for these sectors will remain positive, but the trajectory will be moderate.” Gabriele, senior portfolio manager at Pinnacle Associates, is cautiously optimistic about the stock market performance for the remainder of 2023. Stock Market Performance Prediction for the Rest of 2023Īlice A. While there’s no crystal ball to perfectly predict the stock market’s future, here’s what experts think it might look like for the remainder of 2023.Īlso see how the market has performed under each president. Learn: 3 Things You Must Do When Your Savings Reach $50,000 While most investors are thrilled by this growth, some of us can’t help but wonder: Will this upward trend continue? Or are we due for a market correction?Īlso See: Bank of America Says Stocks Are Headed for ‘Big Collapse’ The Dow Jones Industrial Average was set to shed about 9% for the year while the Nasdaq Composite Index was down about 33%, according to FactSet.Īlso read: Is a 2023 stock-market rebound in store after 2022 selloff? What history says about back-to-back losing yearsĬopyright (c) 2022 Dow Jones & Company, Inc.The stock market performance during the first half of 2023 has been rosier than expected, with the S&P 500 surging more than 18% so far this year. The S&P 500 index was on pace for a roughly 20% decline in 2022, which would be its worst year since it tumbled almost 40% in 2008, according to Dow Jones Market Data. The benchmark 10-year Treasury yield was near 3.71% heading early Friday, up from 1.457% a year ago, according to Dow Jones Market Data. What's more, Fed Chair Jerome Powell in December indicated that the central bank's fed-funds rate could top out above 5% in 2023, and stay high for a while, or until inflation shows a concrete path lower to the Fed's 2% target. Read: Wall Street's stock-market forecasts for 2022 were off by the widest margin since 2008: Will next year be any different? It has been a year of historic losses in financial markets as the Federal Reserve quickly raised its policy rate to levels last experienced 15 years ago to fight inflation that appears to have peaked at 9.1% this summer, a 40-year high. The bond market also gets an early 2 p.m. 2, 2023, resulting in a second straight week of abbreviated trade on Wall Street. The same routine holds for the New Year's holiday, with both the stock and bond markets closed on Monday, Jan. 26.īond traders also have Monday off, but debt markets will close one hour earlier than usual on Friday, Dec. stock market will be closed on Monday, Dec.
2 for the New Year's holidayĬhristmas Day falls on a Sunday this year. The stock market also is closed on Monday, Jan.
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