Salient to Investors:
The S&P 500 is at 15 times reported earnings versus a low of 13 in 2012 and the 6-decade average of 16.4.
T. Doug Dale at Security Ballew Wealth Mgmt said we’re extremely overbought, but the market can continue higher.
James McDonald at Northern Trust said a pause is understandable given the strong start in 2013. McDonald said the market’s focus will be on private sector growth as it knows the public sector won’t generate any big presents.
Goldman Sachs cut its 3-month recommendation on global equities to neutral from overweight as investors need time to digest recent gains. Analysts Anders Nielsen and Peter Oppenheimer said any strong rally near-term will be limited because US equities are above fair value.
Thomas Lee at JPMorganBank said bank stocks offer huge plays on the housing recovery, despite still being viewed as tainted – investors still worry about regulations, visibility.
David Bianco at Deutsche Bank is bullish on financial, industrial and tech companies.
Read the full article at http://www.bloomberg.com/news/2013-02-11/u-s-stock-futures-rise-s-p-500-contract-gains-0-3-.html
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