The market has continued to grind higher, led by tech stocks, even in the face of a potential debt default and stubborn inflation.
for the S&P 500 to 4,300 from 4,000, saying that the focus of companies on efficiency would make earnings more stable and that stocks were not overvalued.
"Current valuations are not low, but rarely are low during profits recessions. On cyclically adjusted earnings, valuations argue for price returns of 5% per year for the S&P 500 over the next decade," Subramanian said in a note to clients. The first-quarter earnings season is winding down, but there are a few notable reports in the coming days, with
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