Wall Street's historic rally may be entering a more dangerous phase. Bank of America strategists are warning investors to prepare for a potential "summer correction" after U.S. stocks surged to record highs faster than expected.
In a new note to clients, the strategists said the S&P 500 has already reached the bank's year-ahead target of 7,430, raising concerns that the market may be overheating after months of relentless gains fueled by enthusiasm around artificial intelligence and resilient corporate earnings.
