During the Fed's last taper, the S&P 500 gained 15% in a broad advance

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Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, October 19, 2021.

Brendan McDermid | Reuters

Stocks are likely to continue their march into record territory and take the Federal Reserve’s move to end its easy policies in stride, unless inflation becomes more problematic and threatens to speed up Fed tightening.