On pace for five-straight months of gains – what history suggests comes next

Market Perspective

March 26, 2024

What happened

The equity market has been fiercely resilient since the rebound off the lows last October. In fact, the S&P 500 is on track to see its fifth-straight month of gains with a cumulative price return of about 25% over the period. The rise has been aided by an economy that has exceeded expectations, forward corporate earnings estimates that have moved to record highs, technology leadership, and expectations that the Federal Reserve will start lowering short-term rates later this year.

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