Using next year’s projections of $176 a share, the S&P 500’s price-earnings ratio falls to 15.9.
“I do think earnings will be good enough to blow through there and take some of the lagging names up with it,” JP Gravitt, chief executive officer and market strategist for Market Realist, said in an interview at Bloomberg’s New York headquarters. “And then I think we’re going to be kind of left pulling the bag like, ‘What now?”’
This article was provided by Bloomberg News.