Wall Avenue Holds Constant As Investors Await Huge Earnings

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Advertisement Continue reading the main story”After new highs that we saw last week, the market deserves a rest as investors await big earnings this week,” said Dave Donabedian, chief investment officer of Atlantic Trust.
Advertisement Continue reading the main story(Reporting by Tanya Agrawal; Editing by Arun Koyyur)
“Our view is that right now the equity market is a one-legged stool that’s driven by earnings and we’re pretty optimistic about earnings but if that should falter, the market will falter.
The S&P 500 has been trading at about 18 times earnings estimates for the next 12 months, compared with the long-term average of 15 times.

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