Things may be getting frothy on Wall Street as stocks trade near record highs

Things may be getting frothy on Wall Street as stocks trade near record highs

Wall Street is feeling good. Perhaps, too good.

US Stocks Surge Closer Toward New Record Highs

U.S. stock markets extended their march higher on Wednesday, with positive economic news underpinning a rally that is fueled by hopes of Federal Reserve interest rate reductions later this year. The most significant report indicated wholesale prices decelerating more than expected in June, alleviating investors’ worries and nudging major indices toward record levels. The S&P 500 gained 0.2%, within a fraction of its all-time high, and the Dow Jo…