What's Driving Stocks
Shares in US stocks rocketed 7.2% higher in the third quarter!
It was the best quarter in five years, and shares settled near the record high.
But the nine-year-old bull market is the longest in modern U.S. history.
And the expansion is the second-longest on record!
How long can this go on?
What’s driving stocks?
Earnings are driving stocks!
The S&P 500 profit expectations surged in the first eight months of 2018, contrary to their normal pattern.
Earnings estimates by Wall Street analysts for six years in a row — from 2012 to 2017 — started out overly optimistic and then gradually were shaved back as the end of each year approached.
That pattern was nothing like what’s been happening lately.
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