s&p 500 index â ė§ęļ ëŽīėĻ ėžėī?
The stock market has been rocking in April, no doubt about it.
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
