The Stock Market Is up 27% Ahead of the Final Fed Meeting of the Year. But Is a Correction Overdue?
'I would love to see a meaningful pullback in equities,' says Talley Leger at The Wealth Consulting Group. Wall Street has been feeling increasingly doubtful about year end festive cheer, with the rally in stocks taking a breather this week as markets brace for the final Federal Reserve's final meeting of 2024.Investors hoping for the tech-led bull market to sweep up more stocks in December have been largely disappointed, raising concerns about potential fragility in markets and leaving S&P 500 index value stocks SPYV with a record losing streak.The blue-chip Dow DJIA logged its seventh session in a row of declines Friday, its longest stretch of losses since February 2020. Talk also resurfaced about an "overdue" correction, especially with the Fed expected to greenlight another small interest rate cut this coming week, before then pivoting to a slower pace of monetary easing next year.What's more, for every dollar invested in November in the stock market's SPDR S&P 500 ETF Trust - SPY