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Bumper earnings will broaden a narrow tech-led stocks rally, analysts say channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.
A handful of technology firms and
last year s laggards have so far driven the heady rise in U.S.
and global stock markets this year, but bumper earnings
surprises could now lift more sectors and.
A handful of technology firms and last year’s laggards have so far driven the heady rise in U.S. and global stock markets this year, but bumper earnings surprises could now lift more sectors and stocks and broaden the rally, analysts say. Analysts point to receding recession concerns and the prospect of a less aggressive policy stance from the U.S. Federal Reserve as factors fuelling hopes for a broader market rally. About 67% of consumer discretionary sector firms exceeded consensus net income expectations, primarily due to robust consumer spending.
According to a recent Reuters analysis, the skyrocketing of U.S. and global stock markets this year has been fueled primarily by a handful of technology