Combined with a resilient labour market, the benign inflation data bolsters the hopes of those betting the economy is facing a so-called Goldilocks scenario of cooling inflation and steady growth that is seen as a positive backdrop for the rally in stocks. The S&P 500 is up 16.5% year-to-date and on stands at its highest level since April 2022.
The S&P 500 trades at a forward price-to-earnings ratio of 19.2 times compared to its long term average of 15.6, according to Refinitiv Datastream. “It is very clear that the back of inflation is broken and it’s now showing up in the data,” said Jamie Cox, managing partner at Harris Financial Group. “Markets are starting to come around to the conclusion that the rate hikes are behind us.”
If company guidance is strong, “then you could see the stock market continue higher,” said King Lip, chief strategist at Baker Avenue Wealth Management.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: KitcoNewsNOW - 🏆 13. / 78 Leer más »