Remember way, way back in history—Tuesday morning, to be precise—when the leader of the free world said that, given his choice, a U.S.-China trade deal wouldn’t be completed until after the November elections?
In a note to clients, Garthwaite points out late-cycle bull markets often see a growth bubble reaching multiples of 45 to 60 times earnings. U.S. growth stocks are trading at a mere 28 times earnings. He says tech giants Microsoft MSFT, +0.12% and Alphabet GOOG, +1.83% as well as defense contractor Raytheon RTN, +1.12% are growth stocks that are cheap by its own valuation methodology, with a free cash flow yield above 3% but net debt-to-EBITDA below 2.
President Trump is still in the U.K. at the NATO summit that on Wednesday had yet to generate any major headlines. Back in Washington, the House Judiciary Committee will have its first hearing since the release of a report by the Democrats on the House Intelligence Committee that found “serious misconduct” by the president.
Alphabet is in focus after announcing that founders Larry Page and Sergey Brin will exit active management—but stay on the board—and that Google Chief Executive Sundar Pichai will now become chief executive of the parent company. GoPro GPRO, +1.04%, the action camera maker, rose in premarket trade as its chief executive said “we crushed it” during the Black Friday and Cyber Monday sales promotions. Workday WDAY, -6.
Pumping up the market for a crash. Is a bad idea, yet manipulation is at an all time high.
Lol - no
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »