Be wary even if the stock market has been fabulous
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While market meltdowns are what most people worry about, some strategists are nervous that stocks are rising too rapidly.
PHOTO: AFP
Jeff Sommer
September is typically a dicey month for the stock market. In many years, so are the weeks before a contentious election. But the returns that millions of investors have been seeing lately have been wonderful – far better than Wall Street projected at the end of last year.
The S&P 500 is more than 20 per cent higher than the Wall Street consensus for all of 2024. As a consequence, Wall Street has upgraded its outlook radically: Now that stocks have been rallying, why shouldn’t they rise further?
