Several money managers say rally still has room to run; one is Nancy Tengler

 “The growth is there and it’s still driven by the consumer,” she said. “Earnings season will be pretty robust. We will see more surprises to the upside than to the downside. We are very bullish.”

Of course, extending a rally that has seen the S&P 500 nearly double since the start of 2020 would be no mean feat, with the index trading at 24 times annual earnings, one of its higher multiples outside the 1990s technology bubble. 

Bloomberg 18 October 2024 

https://www.bloomberg.com/news/articles/2024-10-18/wall-street-s-nonstop-rally-mints-new-class-of-hardcore-bulls

Einhorn says it’s the most expensive stock market in decades; 30 to 50 times earnings

https://englundmacro.blogspot.com/2024/10/einhorn-says-its-most-expensive-stock.html

Den amerikanska aktiemarknaden har sedan 2009 ökat med nästan 1 000 procent

https://englundmacro.blogspot.com/2024/10/den-amerikanska-aktiemarknaden-har.html

Tillbaka till Wall Street och Stockholm 19-20 oktober 2024

https://englundmacro.blogspot.com/2024/10/wall-street-och-stockholm-19-20-oktober.html