1/31/2024 0 Comments Global citi surprise index![]() ![]() On both trailing earnings and forward earnings estimates, we believe price-to-earnings (PE) ratios?-?both between 17 and 18?-?are slightly rich, but not high enough for us to change our positive outlook for U.S. One way to respond to that question is to look at valuations. The market’s continued ascent has caused some to ask if the stock market reflects excessive optimism. Thanks to some help from the Greece agreement reached Friday afternoon (February 20, 2015), the S&P 500 and Dow Jones Industrials Average ended last week at new record highs, while the NASDAQ has moved to within 50 points of the 5000 milestone. We view recent economic disappointments as largely temporary, and would expect the surprise index may reverse recent declines as expectations have come down, providing support for cyclical sectors. (NYSE:C) Economic Surprise Index suggests expectations remain reasonable. The pace of economic surprises as measured by the Citigroup Inc. ![]()
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