If you’d listened to some statisticians you could have seen Monday’s bullish session, and a fresh record for the S&P 500 SPX, +0.56%, coming from a mile off.
But our call of the day from strategists at UBS warns a big threat is lying in wait for equities: earnings expectations. “Ultimately, the most vulnerable macro backdrop for equities occurs when forward earnings growth turns negative as LEIs are trending downward ,” says Trahan, who offers another ominous chart:
The chart Plant-based meat alternatives have been all the rage, but shares for one big company in that space, Beyond Meat BYND, +4.56%, got a poor reception late Monday to the first profit in the company’s history, as our chart of the day shows.
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