Ekonomické zprávy
19.10.2021

S&P 500 Index: Equity market optimism is justified – UBS

FXStreet reports that given robust economic growth and earnings, economists at UBS still believe the optimism in equity markets is justified.

“We expect a drag on earnings per share from supply chain problems of just 1% for 2021.”

“We continue to believe the Fed will look through the current spike in inflation. US average inflation data suggests the Fed doesn’t need to act: On two, three, and five-year rolling averages, core PCE inflation remains well below 2%.”

“As the labor market continues to recover we expect yields to rise to 1.8% this year, a gradual increase that has historically been consistent with rising equities.”

“We still expect roughly 30% earnings growth in the third quarter, representing a 5% beat of consensus expectations.”

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