THE S&P 500 WILL END THE YEAR BETWEEN 6,175 AND 6,350
As of February 7, and after 62% of the S&P reporting – the blended earnings growth rate is at its highest level since 2021. However, revenue estimates are lagging behind earnings, and the margins by which markets reward positive earnings surprises have not been as substantial as usual. Confidence is starting to come down, I do like that.
DOLLAR STRENGTH WILL CONTINUE
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INTERNATIONAL STOCKS ARE UNDERVALUED
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EARNINGS GROWTH EXPECTATIONS IN THE UNITED STATES ARE TOO AMBITIOUS
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ASSET SELECTION
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THE FEDERAL RESERVE WILL ONLY CUT INTEREST RATES ONCE IN 2025