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Stock impact report

Wall Street Says Stocks Are Too Cheap to Ignore as War Rages On [Yahoo! Finance Canada]

Barclays PLC (BCS) 
This month's pullbacks in the S&P 500 and Nasdaq 100 indexes have sapped investor sentiment as hostilities in the Middle East push oil prices higher and raise inflation fears. Still, stock market strategists at Barclays Plc, CIBC Capital Markets and Truist Advisory Services Inc. are advising clients to look past the near-term risks, citing attractive valuations, solid profit estimates, optimism over artificial intelligence technology and a history of market rebounds after geopolitical shocks. Their views offer a dose of confidence to traders watching the S&P 500 head for its fifth consecutive down week, having shed almost 6% since the war in Iran started. Sentiment indicators, which usually offer contrarian signals, are hovering near depressed levels. And the index is valued at 19.5 times earnings over the next 12 months, in line with its average over the past decade. “Overall, it's a walk not run type situation with equities but the starter's pistol has gone off,” Christopher Ha Show less Read more
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