2024 was a banner year for equity investors. Stocks have cranked out record highs practically every week despite stretched valuations, political uncertainty, and interest rates remaining high through the fall. The Morningstar US Market Index has returned more than 29% in the year to date, putting it on track for its best year since 2019. Stocks are up around 75% since their last bear market low in October 2022.
Analysts and fund managers point to a slew of elements fueling this big rally. Here’s a closer look at those factors.
This post originally appeared at Morningstar.