It’s no secret that the market has been on fire so far in 2017.
The combination of rising expectations and the ability to hit those expectations has continued to push shares to new record highs. But with the third quarter wrapping up, the question now is whether today’s lofty expectations can be met. Can earnings grow even further to support stock prices?
Investment manager State Street (STT ) thinks so.
Citing several factors, State Street is of the opinion that earnings could very well see another quarter of significant growth, and that should make equity investors very happy indeed. If State Street is right, it could mean stocks still have room to run further.
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Stocks have had an awe-inspiring run so far this year. Built on the election of Donald Trump and his pro-business campaign, stocks have rallied throughout the year. So far, the S&P 500 and its ETF tracking twin the SPDR S&P 500 ETF (SPY) have gained more than 14% in 2017.