And yet, you might be surprised to learn that the S&P 500 is basically flat for the year, as those gains only made up for earlier losses. Through June 20, the index is up 1.7% for the year.

The stock market has rallied in recent weeks as fears of a trade war and a recession have eased. And yet, you might be surprised to learn that the S&P 500 is basically flat for the year, as those ...