Post #15565

S&P 500 Holds Record Highs The S&P 500 continues to grind higher, holding near fresh record highs despite thin holiday liquidity. The backdrop remains supportive but not euphoric. Markets are leaning on expectations of steady economic growth and a more accommodative Fed over time. Strong Q3 GDP growth (4.3% YoY) reinforced the resilience of the U.S. consumer. At the same time, there are concerns that AI capex expectations may be stretched and have capped upside, muting a full-blown Santa rally. With volumes still light, price action is being driven more by positioning and sentiment than fresh conviction. - Alan