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Wall Street opens higher, Dow rises to record high
Investors have been counting on earnings to support the relatively high valuations for equities, with the S&P 500 trading at about 18 times earnings estimates for the next 12 months, above its long-term average of 15 times. This is above the 71 percent average over the past four quarters, according to Thomson Reuters I/B/E/S. The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon (AMZN.O), Exxon (XOM.N) and Starbucks (SBUX.O) and a drop in shares of tobacco companies.
https://finance.yahoo.com/news/wall-street-set-open-higher-125812014.html?.tsrc=rss
Investors have been counting on earnings to support the relatively high valuations for equities, with the S&P 500 trading at about 18 times earnings estimates for the next 12 months, above its long-term average of 15 times. This is above the 71 percent average over the past four quarters, according to Thomson Reuters I/B/E/S. The S&P 500 slipped on Friday on negative reactions to earnings reports from high-profile names such as Amazon (AMZN.O), Exxon (XOM.N) and Starbucks (SBUX.O) and a drop in shares of tobacco companies.
https://finance.yahoo.com/news/wall-street-set-open-higher-125812014.html?.tsrc=rss
