U.S. stocks hover at high levels, and the optimism over corporate earnings expectations cools down

ChainCatcher news, according to Jinshi reports, as U.S. stocks hover near record highs, analysts' optimism about corporate earnings is cooling, indicating that this round of market may encounter resistance during the earnings season. The corporate earnings expectations adjustment index tracked by Citigroup has recently turned flat for the first time since August. The forward price-to-earnings ratio of the S&P 500 index has reached 22 times, nearly 19 times higher than the average level over the past decade. Evercore ISI strategist Julian Emanuel pointed out that the stock price reactions during the earnings season are expected to be "severely differentiated," making it difficult to serve as a catalyst for pushing the index upward. RBC Capital Markets strategist Lori Calvasina stated that the proportion of companies exceeding earnings expectations this season is expected to slow down, and earnings sentiment is at a critical turning point.