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The stock market is back at new highs, but champagne corks aren’t popping on trading desks

April 24, 2019


The markets are at new highs, so why does it feel like August?

The large beats on earnings from companies as diverse as Lockheed Martin, United Technologies, Pulte and Whirlpool are propelling the S&P 500 to a new high. In addition to earnings well above expectations, we see China bottoming, Europe at least showing some signs of stability, and the Fed remains accomodative.

Doesn’t get much better than that. So what’s next?

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