Monday, 8 January 2018

“Solid” earnings growth to boost stocks further

Stocks started the year on a strong note last week and analysts are expecting more gains as the year progresses.

The S&P 500 rose 2.6 percent last week, breaking above 2,700 for the first time in the process and ending at a record high.

According to Bloomberg, “the fundamental backdrop for equities remains bullish”.

Phil Orlando, chief equity strategist at Federated Investors, said: “Corporate earnings growth has been solid in the last nine months, we expect another double-digits in the fourth quarter. The party is going to continue.”

The same story could be said of Asian stocks, according to another Bloomberg report.

“Asian equities may be at record highs but analysts see earnings season, which gets under way this week, providing a further boost,” the report said.

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