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Another record high S&P 500: Wednesday's market takeaways

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Wall Street

The S&P 500 (^GSPC) hit its first record high since March. Meanwhile, Wall Street grows more bullish, with BMO Capital Markets raising its year-end target...

Yeah, I think we're done, but no, we got record eyes for all three major indexes, right?But I think largely the rallies seem to be driven by the economic data that we got this morning.

So when you think about the headwinds, we talked about during the April drawdown and you rising tenure, right?Well, in the last month, we've sort of reversed that conversation when you add that up, it kind of makes sense that the markets rally.

Now, this is the first time Belskis moved his target yet this year, we've been talking a lot about the strategists moving. Normally from May to December stocks do particularly well, they gain, he got to 5600 using a 7% gain from where we were yesterday and over 70% of the time if we have the first five months, like we just had that is what happens.

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