Key Takeaway: Broad gains in June have carried the median S&P 500 stock into positive territory on a YTD basis even as a majority remain below where they were in February.
More Context: The median stock in the S&P 500 was down 2.7% YTD as of the end of May but is now up 3.5%. This short-term improvement is encouraging, but comes with a caveat: the median stock had a YTD gain of nearly 9% in early February – 60% of the stocks in the S&P 500 are below where they were 5 weeks into the year. Conditions have improved in recent weeks, but cyclical challenges (especially on the macro front) persist.
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