Market Extra: This stock-market bull called the relief rally that took the S&P 500 to 2,950 — but now he’s reluctant to raise his target

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Stock-market investors can thank the Federal Reserve’s response to the COVID-19 pandemic for a relief rally that saw the S&P 500 briefly top the 2,950 level on Wednesday, but it might take another economic shock to prompt the sort of additional policy response that would allow equities to push further to the upside, according to one Wall Street analyst.