S&P 500 Index: Not much scope for markets to rally in the near term – UBS SP500 Equities Banks
have gained 5.1% year-to-date, with Europe’s Stoxx 50 climbing 8.6% and the S&P 500 rising a more modest 3.5%. The big question now is whether the rally will prove durable, economists at UBS report.“We don't see much scope for markets to rally in the near term, especially given our outlook for continued pressure on corporate profit growth.”
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