Unloved bull market: It's been a year since latest record

The Standard & Poor's 500 index reached its latest high of 2,130.82 exactly one year ago.

[...] it's come close to beating it, only to veer lower, sometimes sharply.

After a horrendous start to the year, the worst on record for the market, stocks have shown remarkable resilience and have clawed back the ground they lost since 2016 began.

A big reason is how fresh the memory still remains of the stock market's crash during the 2008 financial crisis.

Utilities, telecoms and companies that make everyday items for consumers have had the strongest returns.

Much of that was because of the scary 5 percent loss for the S&P 500 in January, and it fits with the longstanding hesitancy investors have had about the U.S. stock market.

The International Monetary Fund recently cut its forecast for global growth this year and warned that global financial stability risks have increased.

Much of the weakness has come from the energy sector, where falling oil prices have decimated profits, but other sectors are also seeing weakness.

"[...] I think it will get better," Wells Fargo's Manley says about his expectations for both corporate earnings and the stock market.