Some Gas Left in the Tank for the Stock Market Rally?

Let’s start with earnings: 2020 Earnings Estimates for the S&P 500 came down modestly this week from $177.51 to $176.47. At the time of writing, the S&P 500 is trading at 3,327, which implies a forward earnings multiple of 18.85. This is high relative to the five year average of 16.7x, but low relative to the multiple … Continue reading Some Gas Left in the Tank for the Stock Market Rally?