The U.S. stock market enjoyed an impressive performance throughout the first half of the year — the 21st best since 1900. As we move into the second half of 2024, equity investors face greater risks, according to a Goldman Sachs note issued Tuesday. Below are 10 reasons why equity analyst Peter Oppenheimer feels that global stocks are navigating an unusual environment characterized by high valuations and increased political tension. This could diminish the fear of missing out (FOMO) after a significant rally. Chart: Nasdaq 100, S&P 500 Have Rallied 87% And 45%, Respectively Since Late 2022 Resilience Without Pullbacks: “We haven’t seen a 5% pullback in global equities since the correction in the second half of last year,” said Oppenheimer, highlighting the remarkable resilience of equity markets worldwide. Limited Buffers: Historically, strong returns in the first half are not followed by weak returns in the second half. The last instance of a negative second half after a 15% gain in the first half was in 1986. This pattern has occurred ...