“The healthcare bill not coming through raises some continued concerns about the ability of Washington to push through favorable fiscal policies,” Lisa Kopp, head of traditional investments at U.S. Bank Wealth Management, told Reuters.
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The markets, though, continue to push toward record heights, but market participants are closely monitoring the current earnings season to see if high valuations are justified in light of mixed economic news, weak inflation and policy uncertainty on Capitol Hill.
“With valuation where they are, it is really important for earnings to come through for the market to retain their momentum and push upwards,” Kopp added.
Analysts are projecting a 8.2% rise in second-quarter earnings for the S&P 500 companies year-over-year, following a robust first quarter when U.S. companies revealed their best earnings result since 2011.
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