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Equity markets may see strong second-half rally after recent selloff 

  • 2022 was only the sixth time since 1926 that the S&P 500 fell over 15% in the first half of the year. 
  • On each prior occasion, the S&P 500 rebounded in the second half of the year, gaining an average of 27%. 
Source: Morningstar and S&P as of 6/30/2022. Past performance does not guarantee future results.
Nervous investors may want to sit tight, as equity markets could see a strong rebound in the second half of 2022.
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Equity valuations have reset for growth stocks, making now a potentially good entry point for long-term investors.

Definition and Index:  S&P 500 Index is an unmanaged index of 500 common stocks of large U.S. companies, weighted by market capitalization. Data prior to 1936 represented by Ibbotson Associates SBBI U.S. Large Stock Index which is based on the S&P Composite Index. Indices are unmanaged and are provided for informational purposes only. Investors cannot directly invest in an index. Past performance does not guarantee future results. 

Investing involves risks. Some investments are riskier than others. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. Diversification and asset allocation do not guarantee profit or protect against loss. 

The views expressed herein are those of PGIM Investments professionals at the time the comments were made and may not be reflective of their current opinions and are subject to change without notice. Neither the information contained herein nor any opinion expressed shall be construed to constitute investment advice or an offer to sell or a solicitation to buy any securities mentioned herein. This commentary does not purport to provide any legal, tax, or accounting advice.  

Certain information in this commentary has been obtained from sources believed to be reliable as of the date presented; however, we cannot guarantee the accuracy of such information, assure its completeness, or warrant such information will not be changed. The information contained herein is current as of the date of issuance (or such earlier date as referenced herein) and is subject to change without notice.  

Any projections or forecasts presented herein are subject to change without notice. Actual data will vary and may not be reflected here. Projections and forecasts are subject to high levels of uncertainty. Accordingly, any projections or forecasts should be viewed as merely representative of a broad range of possible outcomes. Projections or forecasts are estimated, based on assumptions, and are subject to significant revision and may change materially as economic and market conditions change. 

© 2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Global Industry Classification Standard (GICS) was developed by and is the exclusive property and a service mark of MSCI, Inc. (MSCI) and Standard & Poor’s, a division of The McGraw-Hill Companies, Inc. (S&P). GICS classifications and related GICS information are provided “as is” with no express or implied warranties. The presentation may contain confidential information and unauthorized use, disclosure, copying, dissemination, or redistribution is strictly prohibited. This is a presentation of the S&P 500 Index data. S&P is not responsible for the formatting or configuration of this material or for any inaccuracy in presentations thereof. This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients.  The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional. 

Jennison Associates and PGIM, Inc. (PGIM) are registered investment advisors and Prudential Financial companies. PGIM Quantitative Solutions is the primary business name of PGIM Quantitative Solutions LLC, a wholly owned subsidiary of PGIM. PGIM Fixed Income and PGIM Real Estate are units of PGIM. © 2022 Prudential Financial, Inc. and its related entities. Jennison Associates, Jennison, PGIM Real Estate, PGIM, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.  

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