Underneath the stock market's epic rebound has been a 'more favorable' trend that Credit Suisse says will drive the market higher.
Underneath the stock market's epic rebound has been a"more favorable" trend that Credit Suisse says will drive the market higher.
That is because all the market risks that tanked stocks in December are now"receding," according to Credit Suisse chief U.S. equity strategist Jonathan Golub. "More specifically, less hawkish comments from the Fed, declining inflation and recession fears, and the potential for a resolution to China trade issues are the primary forces driving volatility and spreads lower, and stocks higher," he added.
Credit Suisse actually lowered its 2019 earnings estimates for the S&P 500 firms to $170 from $174 despite raising its stock price outlook. The firm says the lowered estimates are due to lower oil prices and large tech companies' worsening outlooks.
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