Bull market to continue for a third year with small caps leading the way, Piper Sandler says

The bull market will continue into 2025, according to Piper Sandler, and this time it will be led by gains in small caps. "We see compelling technical evidence suggesting that this bull market has room to continue thriving on skepticism and expanding further 'down-cap' throughout the upcoming year," Piper Sandler chief market technician and chart analyst Craig Johnson wrote Wednesday. .RUT YTD mountain The Russell 2000 has gained more than 17% in 2024.

Historically, the third year of a bull market typically sees the S & P 500 return 5.2% on average, while small caps usually register double-digit returns, Johnson added. The chart analyst's view comes as the S & P 500 climbed on Wednesday following a November consumer inflation report that matched expectations .

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