“As we move into the next couple of weeks, the focus will move toward the micro and to specific company earnings and expectation going forward,” Matt Jones, U.S. head of equity strategy at J.P. Morgan Private Bank, told Reuters.
Many anticipate the corporate earnings season to improve after a string of losses that contributed to a so-called earnings recession over previous quarters. The strengthening economy and rising oil prices helped support the outlook.
“We’ve come a long ways in a hurry, and right now there is more good news than bad news priced into the market. We may be due for a breather with valuations at current levels,” John Brady, managing director at R.J. O’Brien & Associates, told MarketWatch.
For more information on the markets, visit our S&P 500 category.