Money in the Market: Can the S&P 500 set a new high next year?

In 2023, S&P 500 rose approximately 19% as investors are increasingly betting that the Federal Reserve will soon stop raising interest rates. What can we expect from this rally? And is the market rally welcomed? What kind of hurdles should we expect from those who are wary of it? On Money in the Market, Hongbin Jeong speaks to Wong Kok Hoong, Head of Equity Sales Trading at Maybank Securities, about his insights.   Highlights: The S&P 500 jumped 1% for its fourth straight weekly advance last week - with only three down sessions in 19 trading days. Is Wall Street now predicting more gains to come? - 2:22 Can the S&P 500 even jump to a record high next year? - 3:30 Powering this rally is the belief that the Federal Reserve is done raising interest rates and will start cutting them in 2024.  But is the idea that rate cuts may be coming not a sustainable reason for elated market sentiment? - 6:18 How can the current rally be sustainable? - 7:40 If the Fed is cutting rates because of a recession, will this be unsupportive for stock gains? - 8:28 See omnystudio.com/listener for privacy information.