Hints and tips:
...Still, Mr Stovall also warned that “prices appear to be well ahead of fundamental forecasts and may therefore be vulnerable to downward readjustment.”...
...“Prices appear to be well ahead of fundamental forecasts and may therefore be vulnerable to downward readjustment,” Mr Stovall warned....
...Sam Stovall, chief investment strategist at CFRA, notes that less than two months into the year, the S&P 500 has already climbed above his year-end target of 2,335....
...Despite the eye-catching figure, P/E ratios “don’t make for a good market-timing tool”, Mr Stovall said....
...Valuations that were seen by some investors as stretched might have also played a role in the move out of utilities, said Mr Stovall....
...The sector took a hit on several fronts, Mr Stovall said. Banks faced increased credit costs as a result of loans to the embattled energy sector as well as lower trading revenues....
...Sam Stovall, chief equity strategist at S&P Capital IQ, says the sector is best positioned to benefit from the recovering US economy and the pick-up in consumer spending....
International Edition