Timmer Report: Midyear stock market outlook

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Timmer Report: Midyear stock market outlook

June 2023

Highlights

While the market as a whole has made gains this year, a small number of mega-cap stocks have been the main drivers of those gains.
That looks inconsistent with the idea that we're in a new bull market, since early bulls tend to be characterized by broad-based gains and rising small caps (which we haven't seen).
That said, earnings have continued to prove surprisingly resilient.
With each decent earnings season we see, it becomes less likely that the market takes another leg down (and more likely that we're already in the start of a bull market).

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Author

Jurrien Timmer

Director of Global Macro

Jurrien Timmer is Director of Global Macro at Fidelity Investments. In this role, he is part of Fidelity’s Global Asset Allocation group, where he specializes in asset allocation and global macro strategy.

Before assuming his current position, Mr. Timmer held various senior roles within Fidelity, including portfolio manager, director of market research and technical research analyst. Before joining Fidelity in 1995, Mr. Timmer was a vice-president in the fixed-income group at ABN AMRO. He has been in the investments industry since 1985.

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Insights

Timmer Report: Midyear stock market outlook

Highlights

Author

David Wolf, David Tulk and Ilan Kolet: Modelling Behaviour

David Wolf, David Tulk and Ilan Kolet: Rate hikes and their consequences

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