Need to Know: As the S&P 500 bumps up against 3,000, Wells Fargo says cash in on gains

The Federal Reserve seems to have successfully walked a tightrope of market expectations on monetary policy, and investors are cheering — at least for now.

The S&P 500 is on the verge of fresh highs Thursday following a dovish Fed meeting that has helped to heighten chances of a July interest rate cut. That is even amid some concerns that the picture for equities may dim down the road.

“It makes sense for stocks to advance in an environment of lower expected interest rates, but what would be important for investors to also ponder is whether this is a sign of an economy that can’t sustain its growth rate anymore,” said Konstantinos Anthis, head of research at ADSS.

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