As we move closer to the end of the year 2023, the stock market is experiencing significant positive momentum,,,
which includes an eight-day winning run for the S&P 500 index in the beginning of November.
Technology and growth stocks have performed better than other types of stocks in 2023, and experts anticipate that profits growth for the S&P 500 will pick up in 2024.
Having said that, experts anticipate that the trailing effects of rising interest rates will have a negative influence on the growth of,,,
the United States economy in the next quarters, and the economy is already exhibiting indicators that indicate probable difficulties in the future.
Throughout the course of the year, concerns regarding the possibility of a harsh landing for the economy of the United States have diminished.
The S&P 500 has seen a year-to-date increase of 19% in 2023; however,,,
the majority of those gains have been concentrated in the technology and communication services sectors.
Additionally, the Communication Services Select Sector SPDR Fund (XLC) has increased by 45% in 2023, while the Technology Select Sector SPDR Fund (XLK) has increased by fifty percent.