Analysis: US stocks hit new highs, Wall Street suggests the year-end rebound has only just begun.

The S&P 500 closed at a new record high on Thursday, a feat not uncommon in 2025, but this time it came six weeks after the last record. Ed Clissold, chief U.S. strategist at Ned Davis Research, said, "Given the continued strong earnings reports from U.S. companies and the proven resilience of the U.S. economy, the current market sentiment, far from frenzied, suggests there's still more upside potential by the end of the year and into early next year." Ned Davis Research isn't alone in noticing lukewarm investor enthusiasm, even with the stock market at record highs. Barclays' "Equity Fever Indicator," while stabilizing, remains well below its early October highs, indicating that the market still has "powder kegs" to fuel a potential year-end rally. (Golden Ten)