US stocks are defying naysayers like they did in 2019 and 2016 – charts signal the rally will extend, a Bank of America strategist says

Trader at NYSE. Associated Press Stocks are “climbing a wall of worry” – meaning they are staging a bull-run despite economic risks and bearish predictions, according to BofA’s Stephen Suttmeier. The rally is reminiscent of trends in 2019, 2016 and 2012, when the market defied negative news, he told CNBC on Friday. Technical patterns suggest the S&P 500 could extend gains and rise above 4,500 this summer, Suttmeier said. US stocks are “climbing a wall of worry” – a reference to bullish market trends that defy economic uncertainty and naysayers – and the rally has room to run further, according…