Back to all insights

Timmer Report: Midyear stock market outlook


  • 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).

Read article