Stocks escape topsy-turvy 1st half with gains mostly intact

The first half of the year was full of surprises on Wall Street. Even experts and investors who expected more volatility after a historically calm 2017 were caught off guard by many of the developments inside and outside the markets this year, including the rapid gains stocks made in January, their abrupt descent into a “correction,” and the ongoing trade tensions that threatened to undo the benefits of the GOP tax overhaul and strong corporate profits. Still, consumer-focused companies like retailers had a strong start to the year and technology companies continued to rally, while high-dividend stocks, especially phone companies and household goods makers, lagged behind. The Federal Reserve continued to push up short-term interest rates and the dollar rallied, contributing to a sell-off in emerging markets. Long-term rates didn’t rise as much as short-term rates, squeezing the amount of money banks could make from lending, and the financial sector posted a modest loss for the first half.

from Technology https://ift.tt/2lHXGyY