The US equities market is supported by strong fundamentals and history, but the current S&P 500 (^SPX) bull run remains in an early stage, ProShares strategist Simeon Hyman said in a Friday research report.
The outlook for the fundamental equity market in 2025 remains strong as tariff worries have faded, although they persist and sit alongside valuation concerns, according to the report.
While the backdrop for equities going into H2 appears positive, there is scope for a prolonged downturn, according to the analyst.
FactSet highlighted that Q2 earnings estimates for all S&P 500 sectors have been revised downwards in the past three months, but 2025 and 2026 earnings are likely to stay positive across the capitalization spectrum, the analyst wrote.
If the growth is realized, it could enable S&P 500 stocks to grow into current valuations that have returned to "slightly frothy levels," per the note.
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。