On the US stock market the S&P 500 scored 19% gains in 2017, only to be outdone by the Nasdaq and Dow Jones Industrial Average in 2018 so far.
So who is the rockstar?
The tech industry!
Google [NYSE: GOOGL] Apple [NYSE: APPL] Facebook [NYSE: FB]
Tencent [OTC: TCEHY] …to name a few.
US stock markets are still in a relatively sweet spot. Let’s face facts here; the earnings-driven 2017 market was the best year for earnings growth since 2011.
The S&P 500 trades at 20 times the next 12 months earnings. Overvalued?
It is safe to assume that if conditions of liquidity within the economy do tighten, multiples will move lower, but not all that much before support shows up, should earnings still grow.
All 45 nations tracked by the OECD are expected to see their domestic economies grow in 2018.
Will that hope become a reality?
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