LPL Research released it's Midyear Outlook 2020 last week, discussing the path of the eventual economic and market recovery.
What makes this year so incredible is, as of July 21, the S&P 500 Index moved positive for the year. “From down more than 30% for the year at the March lows to green for the year, 2020 has been a roundtrip like few years before it,” explained LPL Chief Market Strategist Ryan Detrick. “In fact, no year has ever been down 30% or more and finished in the green – could 2020 be the first?”
As shown in the LPL Chart of the Day, there have been only a handful of years down double digits during the year that still finished the year positive. 2020 could be the first to ever be down more than 30% and finish higher, but there’s a long way to go still.