Salient to Investors:

Terry Sandven at US Bank Wealth Mgmt expects a period of consolidation in a sideways trending market with earnings front and center.

62 percent of 52 S&P 500 Index companies so far reporting Q4 results have exceeded estimates, and 63 percent have exceeded revenue estimates.

Analysts predict S&P 500 Index companies increased Q4 earnings by 6 percent and sales by 2 percent.

The S&P 500 is at 15.6 times estimated earnings, near the highest since 2009 and greater than the 5-year average multiple of 14.1.

Michael Binger at Gradient Investments is lowering client expectations for stock market returns to a more normalized 5% to 10%  a year, driven by earnings growth and not multiple expansion.

The World Bank sees the euro-zone helping the world economy grow 3.2 percent in 2014.

Anastasia Amoroso at JP Morgan Funds said the minimal declines are because the reasons for optimism for the overall economy continue as it shifts from life support to self-sustaining expansion. 

Read the full article at

Click here to receive free and immediate email alerts of the latest forecasts.