S&P 500 Rally Pauses After 27 Records This Year: Markets Wrap

A $15 trillion rally in US stocks from April lows took a breather at the start of a week that will bring a handful of Federal Reserve speakers and a key inflation measure.

After notching 27 records this year, the S&P 500 edged lower on speculation that its surge has already priced in a range of positive developments such as the restart of the Fed’s rate cuts.

Stocks halt rally.

Source: Bloomberg

“Of course, there are reasons to be mindful, given the current high valuations compared to long-term averages,” said Mark Haefele at UBS Global Wealth Management. “After such a strong recent run, a ...