The stock market relies on earnings to limit future downside: DataTrek

Today, as the S&P 500 attempts to reclaim that 4,000 level, the 2-Year US Treasury yieldwith expectations that it could move higher as the Fed prepares for more interest rate hikes.

"Current year earnings power is the one notable constant as the S&P has transited through 4,000 numerous times over the last +2 years," he said."This level does seem to be something of a home key for US large caps since the start of 2021."

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