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If the S&P 500 can avoid a pullback, it could make a push toward its all-time high. Investors who weren't ready for the remarkable stock market rally of the last three months may not have completely missed out yet, according to several strategists Insider recently spoke with. While some top investing minds think this market rally isn't trustworthy, others are confident that the path of least resistance for US stocks is higher. He believes the S&P 500 is more likely to hit new highs in early 2024 than retest its Fall low of about 3,500. The S&P 500 is trading at roughly 19.2x forward earnings, he said, adding that equal-weighted funds have a forward earning ratio of about 15.5x.
Persons: Brad Bernstein, we've, I've, Bernstein, Jason Draho, Bernstein's, Draho, Jack Caffrey, Caffrey, Michael Sheldon, chartmaster David Keller, Keller, who's, David Keller, StockCharts.com, Brian Belski, Sheldon, Belski, that's Organizations: Federal Reserve, UBS Wealth Management, UBS Global Wealth Management, JPMorgan Asset Management, Fed, RDM Financial, BMO Capital Markets, BMO Capital Locations: US
Markets will get volatile, maybe the stock market will go down, the Treasury markets will have their own problems,” he said. But this fear of market volatility isn’t going away. A similar fight around the debt ceiling in 2011 spurred a serious bout of market volatility. Wall Street’s key measure of volatility, the VIX, reached two year highs and soared more than 35% in just one day. Wall Street typically uses the VIX, known as the market’s “fear gauge,” as a way to measure how investors feel about financial and economic uncertainties.
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