The stock market is soaring. Will it last?
ABC News
A Fed announcement this week sent the Dow to a record high.
The Dow Jones Industrial Average soared to an all-time high this week, taking flight after the Federal Reserve signaled interest rate cuts next year.
The good times on Wall Street stretch back months. Since October, the S&P 500 -- the index that most people's 401(k)'s track -- has climbed roughly 15%.
Analysts who spoke with ABC News warned the market run is bound to slow in the coming days or months, however, since investor enthusiasm typically loses momentum when the gains are perceived to outstrip those warranted by the economic outlook.
Still, analysts voiced optimism about market performance over the next year as the Fed appears poised to achieve a "soft landing" in which inflation returns to normal levels while the economy averts a serious recession.
"The market seems to think the Fed has cracked the code," Amanda Agati, chief investment officer at PNC Financial Services, told ABC News.
