Unremarkable earnings growth could give investors less reason to hold onto stocks, at a time when elevated yields on Treasuries bolster the attractiveness of bonds.
NEW YORK: The US stock market is the most expensive it has been in around two years. Its valuation could be put to the test as companies report earnings in coming weeks.
The S&P 500 is up more than 9% year-to-date, following its strongest first-quarter performance since 2019. But the bar may be rising for stocks to keep advancing at that pace, increasing pressure on companies to deliver strong results.
