The S&P 500 snapped an eight-session winning streak on Tuesday, but U.S. stocks still have strong momentum heading into the first-quarter earnings season.
The index flirted with the 2,900 level this week, which is a price that we haven’t seen since last October. One big change since then is that average U.S. earnings showed 20%-plus year-over-year growth in the first three quarters of 2018 and now we’re staring at the first quarterly earnings decline in the S&P 500 in three years.
The quarterly reports we’ll see over the next few weeks will go a long way to determining if the recent momentum can continue.… Read more
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