Banks, lenders and other financial companies were more or less flat as Treasury yields continued to decline. Doubts have emerged about the sustainability of the bull market in stocks after eight years of gains. Analysts at brokerage Credit Suisse said the market is in a state of "rational exuberance," suggesting that the bull market has at least one more year to go. The macroeconomic situation is one of the supporting factors for the bull market, said the Credit Suisse analysts. "We have the most broad-based upturn in global growth since 2010 and macro breadth and earnings revisions are closely correlated," the analysts wrote, in a research note. "Above all, labour does not yet have much pricing power..." Earnings-per share growth . "We see circa 8% global earnings-per share growth because nominal GDP is growing faster than wages (partly because of accelerating investment growth)."
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(END) Dow Jones Newswires
November 06, 2017 16:22 ET (21:22 GMT)