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Early Morning with Dave
Stock Market Rallies Further Absent Any Positive EPS Revision Momentum
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Stock Market Rallies Further Absent Any Positive EPS Revision Momentum

Could it be the Trump effect?

David Rosenberg's avatar
David Rosenberg
Oct 21, 2024
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Early Morning with Dave
Early Morning with Dave
Stock Market Rallies Further Absent Any Positive EPS Revision Momentum
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Highlights

  • S&P 500 rally to new highs lacks fundamental support

  • Valuations expand to unsustainable levels for both equity and credit markets

  • Betting market odds of a Trump victory are rising, boosting investor sentiment along the way

  • Chinese stocks outperform to start the week as banks cut key lending rates

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