We’ll find out later — maybe — if there’s any meat on the bone of Tuesday’s stock rally that will see more to come today after the S&P 500 SPX, +0.97% was left just 1% away from a fresh record close.
Well, caution seems the byword among some bank strategists, who were summing up the action after Tuesday’s close. Among them, David Lebovitz, global market strategist, at J.P. Morgan Asset Management, who provides our call of the day with caution that this steady stream of good news for markets may have an expiry date.
“Something needs to give at the end of the day. You can’t have this impossible trinity of resolution on trade, easy Fed and moderate economic growth. One of those things is going to have to fall by the wayside at some point,” Lebovitz said.Opinion: Dividend stocks, hot this year, may get hotter thanks to the Fed
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