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2023 Mid-Year Market Outlook

Financial Decoder

CHAPTER

The Market Outlook for the Second Half of the Year

The potential for an actual declared recession by the NBER clearly has been pushed out a bit I'm not sure that that's a better scenario for the market than if it had already happened or was clearer in the first half of the year. One of the things that we're looking for is to see if there's a continued broadening out of the market beyond just the small subset of large cap stocks. We probably need to get to the point of stabilization for forward expected earnings growth.

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