After two years of pandemic related delays, the Boston Marathon was back in full force this week. The prestigious racing event is the world’s oldest annual marathon, with tens of thousands of runners hitting the pavement to complete the 26.2 mile run. One run that has yet to be completed is that of the current equity bull market, which is still setting a historic pace at this juncture (+100% since its March 23, 2020 inception). Between Russia’s invasion of Ukraine and the onset of Fed tightening, it’s proven to be a tough course as of late. But just as any runner needs disciplined training and proper nutrition to be successful, the equity market has relied upon the macro economic backdrop, attractive valuations, supportive corporate activity, and resilient earnings growth to stay on course.
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