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This Market Rally Has Legs, Six Strategists Say. Here’s Proof

  • History shows stocks tend to gain 12 months after new record
  • Fed is not likely to allow a large major decline: Citi
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Powell Says Fed Will Seek Inflation That Averages 2%

When the stock market started to revive from the depths of the March lows, the killjoys were ready. It can’t last -- just look at the state of the economy, they said. It’s going to crash again.

That message was repeated over and over even as the S&P 500 advanced more than 50% and added $10 trillion in value. Since surpassing its pre-Covid high last week, the index has notched records more than a half-dozen times.