S&P rally may be at risk after three-week gains

Cautious approach: Traders work on the floor of the New York Stock Exchange. Matt Maley says that while markets currently cheer the weaker economic data, ultimately fundamentals will change enough to have a negative impact on equities. — AFP

NEW YORK: The S&P 500’s 9.6% rally in three weeks is looking increasingly unsustainable to some market watchers.

Concerns about the gauge include the fact that stocks often rally on signs of softness in the US economy because that means the US Federal Reserve is less likely to continue raising rates.