Stock Market’s 2023 Surge Faces Fed Test Even as Profits Improve
- ‘The risk is if the Fed feels compelled to reaccelerate’ hikes
- Massive week for earnings also looms, highlighted by tech
The S&P 500 Index is only 5.4% below its all-time peak.
Photographer: Leonardo Munoz/VIEWpress/Getty ImagesThis article is for subscribers only.
US stocks are approaching a record high and the outlook for Corporate America is only expected to brighten. Now investors are waiting to see if the Federal Reserve derails the market’s bull run.
Amid signs that inflation pressures are finally ebbing, setting up what has historically been a bullish stretch, the S&P 500 Index is a mere 5.4% below its all-time peak. It’s a backdrop that raises the stakes for this week’s pivotal central bank meeting, with economists still debating whether a recession is ahead this year.