The stock market has made incredible strides since its downturn last year – so much so, it’s difficult to believe the economy could be on the verge of recession.
At the market’s close on June 16, 2022, the S&P 500 index was at about 3,666.77, beaten down by persistent inflation, the Federal Reserve’s interest rate hikes and geopolitical tensions.
The broad-based index is at 4,409.59 as of the close on June 16, 2023 – marking a roughly 20% gain from a year earlier despite collapses of regional banks, an only narrowly avoided debt default and the Fed’s continued battle against inflation.
Dispatches From The Front 