A strong first 100 days suggests a strong rest of the year for the S&P 500
Analysts at Bank of America Securities said in a note Friday that the S&P 500's strong first 100 days paves the way for a bullish rest of the year.
"Success breeds success. May 23 was the 100 trading day of 2024, and the S&P 500 has rallied 10.4% YTD," declared the bank. BofA notes that the S&P 500 being up first 100 days is also bullish for the rest of an election year. "In Presidential election years, the SPX is up 75% of the time from June-August on an average return of 7.3% ."Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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