Researcher FactSet forecasts earnings and revenue growth in several large-cap sectors this year, following a year when the S&P 500 was down almost 20%. In the past 95 years, the S&P 500, or its predecessor index, the Composite Stock Index, has been down about ⅓ of the time. That’s statistically significant and you can see it occurs regularly. But the important point is: Markets are up more often than they are down.
Will we see a “worst to first” situation in 2023, where last year’s laggards show bigger percentage gains than the leading sectors in 2022?