Federal Reserve Chair Jerome Powell said last week that equities are “fairly highly valued.” Such warnings haven’t kept the stock market from going higher in the past. JPMorgan strategist Fabio Bassi looked at S & P 500 returns after Powell, as well as previous Fed Chairs Alan Greenspan, Ben Bernanke and Janet Yellen, issued similar…
With the S&P 500 (^GSPC) trading near record highs and valuations approaching levels last seen during the dot-com bubble, strategists are rethinking what normal looks like for today’s market. Bank of America equity strategist Savita Subramanian is among those making the case. “Perhaps we should anchor to today’s multiples as the new normal rather than…
WASHINGTON (AP) — Republicans will control the White House and both houses of Congress come January. But President-elect Donald Trump’s intent to nominate loyalists to fill key Cabinet posts has set up a possible confrontation with the Senate, which has the constitutional responsibility for “advice and consent” on presidential nominees. Trump and his Republican allies…