The S&P 500 and the Nasdaq Composite closed at fresh records on Tuesday.
During Tuesday's main trading session, the broad market index rose 0.62% to close above 5,500 for the first time. TheAs the S&P 500 continues to climb, concern is growing across Wall Street that the narrow leadership of the rally is not sustainable for much longer. The question of when the Federal Reserve will start cutting rates is also weighing upon investors.
Scott Chronert, Citi Research head of U.S. equity strategy, thinks a pullback may be imminent in the coming months. "Our concern is that the market is beginning to price in a growth expectation that may be difficult for companies, one by one, to meet, particularly given the ongoing strain that we're seeing on underlying economic conditions," he said on CNBC's"Closing Bell" on Tuesday.
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