But rumblings of a modest correction have been growing for some time now, and analysts say a pullback would be healthy, given the sharp run-up the market enjoyed at the start of the year.
Since the bull market began in early 2009, stocks have experienced several market corrections between 5% and 7% without any serious worsening of fundamentals, noted Bob Doll, chief equity strategist at BlackRock.
He said a continued contraction should be viewed as a "consolidation of prior gains rather than the start of some sort of large downturn." And it could also provide a potential buying opportunity, he added.
Wall Street just closed out its best first quarter since 1998, and while most experts believe stocks will continue to head higher this year, the recent momentum will subside, and there could be a few dips along the way.
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