The equity market has surged over 20% this year, defying earlier skepticism. Supported by 2%+ economic growth, better-than-expected earnings, and a 75-basis-point Fed rate cut, stocks have thrived in a "goldilocks" environment, despite five corrections. As we approach year-end, seasonal trends remain bullish, and positive price momentum, indicated by MACD, suggests continued growth. However, recent slightly higher-than-expected inflation data has tempered the likelihood of further immediate rate cuts, causing market volatility. Despite potential choppiness, strong fundamentals and positive seasonals are expected to sustain the market's uptrend into December.
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