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Strong Earnings Help Market March Higher

Scott Poore, AIF, AWMA, APMA

Markets resume march higher last week on positive corporate earnings.

Markets were still reeling from surprise inflation numbers the previous week until corporate earnings—namely, Nvidia—surprised to the upside. The AI-related stock handily beat both earnings and revenue expectations for the 4th quarter. While some doubters think valuations are out-of-whack, especially for the Mag 7 stocks, earnings growth actually supports higher stock prices. In addition, we have not seen the type of volatility yet that is historically seen when bubbles are near a peak.



In fact, volatility today is much lower than just before the peaks in 2000 and 2007.

Meanwhile, the consumer continues to be upbeat on the economy, even lower income earners have shown improved confidence. Jobless claims, while some headlines would suggest otherwise, were the lowest in 5 weeks. It’s important to remember that headlines do not always represent the aggregate of the labor market. The Fed’s comments on the PCE numbers this week could move markets in either direction.

 

Disclosures


The information contained herein is for informational purposes only and is developed from sources believed to be providing accurate information. The opinions expressed are those of the author, are for general information, and should not be considered a solicitation for the purchase or sale of any security. The decision to review or consider the purchase or sell of any security should not be undertaken without consideration of your personal financial information, investment objectives and risk tolerance with your financial professional.


Forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.


Any market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. The S&P 500 Composite Index is an unmanaged group of securities that are considered to be representative of the stock market in general.


Past Performance does not guarantee future results.

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