Potential hurdles for 2024 U.S. stock rally

Concerns Mount as U.S. Stocks Enter January After Record-Breaking 2023 Rally

After a strong two-month sprint that propelled the Dow and the S&P 500 index to record highs, some portfolio managers and strategists are expressing concerns about a potential market downturn as January begins. Despite the success of the market in 2023, with the S&P 500 rising by 24%, experts worry that investors may start to take profits and lock in gains, causing the market to cool off after its significant run. James St. Aubin, the chief investment strategist at Sierra Investment Management, believes this outcome would not be surprising given the market’s recent surge.