There’s no obvious catalyst for a stock-market pullback, but Citi strategist fears one may emerge in September

That pretty obvious insight is borne out in this chart showing how, with a three-quarter lag, corporate earnings have more or less tracked stock prices. That’s another way of saying, the stock market has done a pretty good job of discounting future earnings.

It can’t last forever, can it? Levkovich is sticking with his 4,000 year-end price target for the S&P 500 — which means he thinks the market may drop by 10%. And he has a specific month in mind when it might, if not fall apart, at least get ropey. “The paucity of immediate catalysts for a pullback is cited regularly, although we worry about higher taxes, cost pressures eating into profitability, tapering and more persistent inflation all coalescing in September ,” he said.

Activision Blizzard ATVI, -3.54% rallied 7% in after-hours trade as the video-games maker, beset by allegations of employee harassment, beat earnings estimates. Dating website operator Match MTCH, -1.78% missed earnings estimates, as it said key markets in India, South Korea, Brazil and Japan are further behind the COVID recovery curve.

Thanks for this picture of Deauville .

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

From EVs to hydrogen: BofA names the global stocks to trade an emerging $2 trillion marketBank of America picked multiple European stocks to trade the trend of climate change mitigation that it says will soon be worth more than $2 trillion. Pro thanks Pro BarstoolBigCat what’s BofA Pro Mercedes-Benz joins a growing list of OEMS making plans to fully switch to electric by decade's end
Source: CNBC - 🏆 12. / 72 Read more »

Asian markets rebound despite wariness of Chinese tech stocksAsian stocks were mostly higher Wednesday as traders mirrored overnight gains on Wall Street during another busy earnings week. good luck
Source: MarketWatch - 🏆 3. / 97 Read more »

Fresh off IPO, ‘biofacturing’ company Zymergen’s stock plunges about 70% after some really bad newsLess than four months after going public and being valued at more than $3 billion by Wall Street, Zymergen Inc. unleashed some bad news Tuesday afternoon and... wow IPO Knitted Companies with no track record So many times the owner cashes out at the top of the market with an IPO and then ducks. Don't see lots of IPO s in a depressed market. The IPO is just a Management and old shareholder's Exit Plan Fee to the bank. Mainstreet holds the bag
Source: MarketWatch - 🏆 3. / 97 Read more »