S&P 500 Falls After 7-Day Rally Drove Index Toward Record – Bloomberg 03-12-13

Salient to Investors:

Ryan Larson at RBC Global Asset Mgmt (US) said the rally could end given few catalysts around but any pullback should be short-term provided central bank accommodation remains.

The Dow recouped all its losses from the financial crisis in less than 65 months, more than a year faster than the recovery from the Internet bubble.

The S&P 500 is at 15.3 times earnings versus the 16.6 average over the last decade, and the Dow is 14.1 times versus its average of 15.8.

IDC said Google’s software will power more tablets than Apple for the first time in 2013 as smaller, cheaper alternatives to the iPad gain favor with consumers.

Sean Darby at Jefferies increased his 2013 forecast for the S&P500 to 1,673 on improved earnings and speculation investors will shift to stocks from bonds. Darby said the economy is a work in progress and equity valuations are slightly above fair value.

Read the full article at http://www.bloomberg.com/news/2013-03-12/u-s-stock-index-futures-little-changed-costco-gains.html

Free email alerts of articles as soon as they are posted.