Central bank firepower helped stock market bulls finish the first half of 2020 on a high. Now the rally hinges on follow-through in the third-quarter from economic data, company earnings and the coronavirus newsflow.
Latest numbers from jobs to manufacturing have kept momentum going. But what comes next is important - for investors as well as possibly for U.S. President Donald Trump's re-election prospects in November. What complicates the picture is that the figures mostly do not reflect record rises in U.S. infections and renewed lockdowns.
"The rate of change matters more than the level," said Morgan Stanley's chief cross-asset strategist, Andrew Sheets."Markets have got it right."It's still tough, for some, to square exalted share prices with the economic outlook. Citi strategists say consensus expectations for end-2021 earnings per share are 30per cent too high.
Reporting season is important for another reason - Morgan Stanley's Sheets notes that current price/earnings ratios encompass a dire second quarter.
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
European stocks ease from one-month highs as rebound hopes dimEuropean shares fell on Tuesday as surging U.S. coronavirus cases and forecasts for a deeper-than-feared recession in the euro zone dimmed ...
더 많은 것을 읽으십시오 »