S&P 500 Trades Within a Whisker of All-Time High: Markets Wrap

Wall Street kicked off the final week of 2023 with gains in stocks, extending a rally that put the market on the brink of a record.

In a session marked by low volume, the S&P 500 traded about 0.5% away from its all-time high of 4,796.56. Despite warnings about overbought levels and stretched positioning, equities continued to power ahead on bets the Federal Reserve will cut rates as early as March.

“The focus will quickly pivot to whether the market will be able to sustain its momentum into the New Year, and that may depend on how long the ...