s&p 500 index

The stock market has been rocking in April, no doubt about it. However, that momentum comes with an ugly downside the bulls are forgetting about: possibly unrealistic future earnings expectations that could prove to be a major headwind to further gains. The problem: New research from Citi shows that the market is pricing in 11.7% compounded earnings growth for the next five years. This level has been matched only a handful of times over the past four decades, Citi strategist Scott Chronert wrote. In turn, the burden of proof is on fundamentals to deliver, as the current bottom-up consensus of