SPY - S&P 500 Could Build On 2023's 24% Gain: Analyst Shares Key Data Supporting Continued Broader Market Performance | Benzinga
Small-cap stocks came back strongly as the broader market rebounded in November following a late summer slump. An analyst sees small-cap stocks’ strong performances as a harbinger of good times for the market.
What Happened: Tapping into history, Carson Group’s Ryan Detrick said that moves of more than 10% in the Russell 2000 Index, an index of small-cap stocks, are not historically bearish. The R2K Index added 12.05% during December, taking the gain for the year to 15.1%.
The index has made more than 10% gains in December 19 other times, Detrick said. Following such strength in December, the S&P 500 Index’s performance six months later was positive ...