The stock market is in the midst of a rally that has propelled equity prices to historic levels.
Since late October, the benchmark index has been positive in 14 out of 15 weeks and gained more than 20% in that time. In the market’s long-documented history, this has never before happened.
Another market “first” occurred Feb. 9 when the S&P 500 closed above 5,000. Stock prices have run incredibly far incredibly fast, and it’s fair to wonder whether S&P 5,000 is validation of the market’s strength or a warning of rougher roads coming.
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