Market Rally Continues with Historic Highs and Steady Futures

Stock futures remained flat after the S&P 500 reached a new high for 2023, following a five-week winning streak. Alaska Airlines' shares declined after announcing a $1.9 billion deal to acquire Hawaiian Airlines. The market is betting on the Federal Reserve keeping rates unchanged this month and potentially cutting rates next year. Some investors believe the current rally is unsustainable. December has historically been a strong month for equities, and market pricing suggests a high probability of rate cuts starting in March 2024.