S&P 500’s ‘Goldilocks’ First Quarter Points to More Gains
The S&P 500 Index rose just enough in the first quarter to point toward further gains later this year, according to Ryan Detrick, chief market strategist at LPL Financial LLC. Detrick drew the conclusion in a blog post Friday. He cited the S&P 500’s track record after first-quarter advances of 5% to 10%, in line with this year’s 5.8% increase. There were 15 instances between 1950 and 2020, according to data compiled by Bloomberg. The S&P 500 rose in the rest of the year 13 times, and had an average nine-month gain of 12.4% for all 15.