Wall Street strategists who spoke with Yahoo Finance believe the bull can keep running wild. Barring any unexpected shocks, the path higher appears to be clear, with earnings growth expected to keep accelerating and the economy on seemingly solid footing as the Federal Reserve cuts interest rates.for the S&P 500 was officially declared in June 2023 when the index rose 20% from its recent bear market low. History says this bull market still has legs.
Charging Bull statue by Arturo Di Modica is seen in the Financial District of Manhattan, New York, on July 4, 2024. Piper Sandler chief investment strategist Michael Kantrowitz noted that high valuations themselves aren't why bull markets end. There needs to be a catalyst. He explained there are two common reasons market drawdowns happen: a spike in interest rates or a rise in the unemployment rate.
"For this market to continue moving higher, and particularly to determine what stocks lead, it's going to be all about earnings," Kantrowitz said. He added, "It would be that sort of thesis that has to play out, and that's going to take two to five years." Janice Smalls Combs, Sean 'Diddy' Combs' mother, has released a statement in defence of her son. As the rapper faces allegations of sex trafficking and sexual abuse, his mum said in the statement shared with multiple news outlets, "I come to you today as a mother that is devastated and profoundly saddened by the allegations made against my son, Sean Combs.
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