Wall Street Uncertain as S&P 500 Enters Bull Market

The S&P 500 has entered a new bull market, driven by AI hype and resilient earnings from US companies, but experts are divided on whether the rally can last as the US is close to tipping into a recession. While some analysts believe AI could boost productivity and profits, others warn of a dot-com style bubble forming in the sector. Corporate earnings are set to drop through the rest of this year, sparking a sell-off, according to Morgan Stanley's top stock strategist Mike Wilson. Meanwhile, top economists David Rosenberg and Jeremy Siegel predict a recession this year, with Rosenberg stating that the market is nothing more than a short-term momentum play.