NEW YORK - A rebound that has taken the U.S. stock market to record highs this week may have further to run, if history is any guide.
Broader historical comparisons also suggest more upside ahead for the current bull market. Lerner's study showed a 108% median climb for bull markets since the 1950s, compared to the nearly 50% the S&P 500 has gained since October 2022. Investors are also watching durable goods and consumer sentiment data next week for further signs of whether growth is cooling enough to support the case for interest rate cuts this year.Momentum can also be a factor in how various areas of the market perform following a rebound, said Sam Stovall, chief investment strategist at CFRA.
Investors who study chart patterns to spot market trends also see evidence that strong momentum could keep stocks buoyant.
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