The first half of 2021 is winding down—and what a half it’s been for investors.

The

S&P 500

has gained more than 14% this year, far better than the 4% loss in the index at this point in 2020.

Last year, of course, was all about Covid-19 lockdowns, which cratered the U.S. economy. There were big winners, though, as investors piled into stay-at-home stocks.

Amazon.com

added 49%.

Netflix

and

Microsoft

shares rose 41% and 30%, respectively.

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