Wall Street Says ‘Timeout Called’ as Rally Wanes: Markets Wrap

Wall Street’s torrid surge from April’s meltdown is showing signs of exhaustion as stock traders await fresh catalysts amid risks stemming from a labor-market slowdown to sticky inflation.

While the S&P 500 has defied September’s gloomy reputation as the worst month for equity returns, the gauge failed to gain traction on Wednesday. The market ebullience saw the index notching almost 30 records in 2025, eclipsing the average year-end analyst forecast and spurring calls for consolidation.

Stock rally stalls.

Source: Bloomberg

At Bank of America Corp., Savita Subramanian noted that on 19 of 20 metrics, the US equity benchmark is trading at statistically expensive ...