With valuations rising, market watchers are paying close attention to the earnings forecast trend. The S&P 500 is now trading at about 17 times forward earnings, up from 16.3 at the start of the month, based on Refinitiv's data.
NEW YORK: Bond traders have firmed up bets that the Federal Reserve will cut interest rates this year and it’s hard to imagine what officials could say at this week’s meeting to dispel that conviction.
US policymakers have gravitated in recent months toward a more dovish outlook. They have been following – but never quite managed to catch up with – market pricing that is now pointing toward a reduction this year.
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