The Bloomberg Commodities Index (BCOM), a popular benchmark tracked by 23 exchange-traded contracts on physical commodities and more than $100 billion in assets, has cratered nearly 10% YTD, with everything from oil and gas to base metals and grains recording declines. Unfortunately, the same cannot be said about the commodity markets. The same scenario has played out with the Dow Jones and the Nasdaq Composite with both indices hovering at record highs.

The S&P 500 is now just eight points away from hitting its record closing high of 4,796.56. The broad market benchmark, S&P 500, has returned 25.5% in the year-to-date, a stunning comeback after4 last year’s crash and more than double the market’s median annual gain of about 10% since 2000. stock markets have enjoyed one of the most productive periods in recent decades.Īll major stock market benchmarks are sitting at, or close to, all-time highs after enjoying epic rallies. Far from the doom and gloom that forecasters like Morgan Stanley’s Mike Wilson and JPMorgan Chase & Co.’s Marko Kolanovic had predicted, U.S. Well, it turns out the bulls were right on the money.

A few contrarian analysts, however, countered by pointing out that the pessimism was overdone and the resilience of the American economy would keep the markets afloat. Indeed, many were saying that higher interest rates as well as an eventual economic downturn would tank the stock markets and compound the previous year’s losses. stock market after 2022 turned into an annus horribilis. Heading into 2023, leading Wall Street prognosticators almost universally predicted plenty of pain for the U.S.

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