Wall Street Week Ahead: Bears hibernate as stocks near record highs
NEW YORK (Reuters) – Stocks have been on a tear in January, moving major indexes within striking distance of all-time highs. The bearish case is a difficult one to make right now. Earnings have exceeded expectations, the housing and labor markets have strengthened, lawmakers in Washington no longer seem to be the roadblock that they were for most of 2012, and money has returned to stock funds again. The Standard & Poor’s 500 Index has gained 5. 4 percent this year and closed above 1,500 – climbing to the spot where Wall Street strategists expected it to be by mid-year. . . .
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