Investors just don’t feel confident about stocks’ rally over the past few months, but the market could still hold up well this spring.


S&P 500

has risen about 15% since early October, when it hit its low point in the 2022 bear market. There is logic behind the move—declines in the rate of inflation have raised hope that the Federal Reserve will soon stop raising interest rates to cut demand for goods and services—but Wall Street is turning up its nose.


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