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US Stocks Hovering at High Levels, Optimistic Corporate Earnings Expectations Cooling
Summary: According to Jinshi's report, as US stocks hover at record highs, analysts' optimistic sentiment towards corporate earnings is cooling, indicating that this round of market may encounter resistance during earnings season. Citigroup's corporate earnings expectations adjustment index has recently turned flat for the first time since August, with the S&P 500 index's forward P/E ratio ...
According to Jinshi's report, as US stocks hover at record highs, analysts' optimistic sentiment towards corporate earnings is cooling, indicating that this round of market may encounter resistance during earnings season. Citigroup's corporate earnings expectations adjustment index has recently turned flat for the first time since August, with the S&P 500 index's forward P/E ratio reaching 22 times, higher than the average level of nearly 19 times over the past decade. Evercore ISI strategist Julian Emanuel pointed out that stock price reactions during earnings season are expected to be 'sharply divergent,' making it difficult to serve as a catalyst for pushing the index higher. RBC Capital Markets strategist Lori Calvasina stated that the proportion of companies beating earnings expectations this season is expected to slow down, indicating a crucial turning point in earnings sentiment.
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Link: US Stocks Hovering at High Levels, Optimistic Corporate Earnings Expectations Cooling [Copy]
