The S&P posted its best first half since 1997, rising 17%. Expectations for lower rates have helped mitigate trade concerns.
With equities edging higher Friday, the S&P 500 closed out a quarter in which it gained 3.8%. That was marked by a banner June performance, its best since 1955, after a dismal May that was its worst in nearly a decade. Halfway through 2019, the S&P 500 has risen 17%, its best first half of the year since 1997.
“The second quarter is a fabulous example of the volatility that is wrought by headlines and emotions,” said Michael Farr, president of wealth-management firm Farr, Miller & Washington. This weekend could mark a pivotal turning point for the market, some analysts and investors say. All eyes are on Mr. Trump and China’s President Xi Jinping as they meet in Japan for a Saturday lunch after the Group of 20 summit. If the two sides come to an agreement on trade, it could ease fears of a tariff-caused global economic slowdown. Such an agreement would relieve pressure from companies that do business or buy supplies from China—such as semiconductor companies and certain retailers.
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