Thursday September 24, 2020

Contradictory indicators on stock market future

Stock prices and the treasury yield curve enjoy a select status as two of ten designated leading economic indicators. When they’re predicting different outcomes, what’s an investor to do?

7th October, 2006

The Dow Jones Industrial Average reached an all-time high last week. Corporate profits, the stuff of which stock prices are made (except on those rare occasions when they lose touch with reality), stood at a 40-year high as a share of gross domestic product in the first and second quarters of 2006.

While there’s a good chance second quarter profits, at 12 per cent of GDP, will be revised down based on upward revisions to personal...

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