Traders on floor of the New York Stock Exchange.
Source: New York Stock Exchange
With the inauguration — and the risk of disruption — now over, what’s next for markets?
The S&P 500 has risen 15% since the election to historic highs on a series of macroeconomic hopes that have driven sentiment, technical levels, and earnings expectations to very elevated levels.
The good news: So far, those hopes are coming to fruition.
The bad news: The stock market has run up big and there is very little room for error.
The bedrock of the market rally to historic highs is the trifecta of additional stimulus to get through the Covid winter, a smooth and effective vaccine…