Despite The Washington Sideshow, Stocks Closed At A New All-Time High
While the sideshow in Washington dominated the world stage again for yet another week, the economy deserves rave reviews. Earnings drive stock prices. Period. It's like financial gravity, and it's how the stock market works. Estimated operating earnings per share on the S&P 500, as of May 8, 2017, was $131.44 in 2017 and $147.10 in 2018. What's that mean?Over time, the value of the Standard & Poor's 500, the black line, follows the action in the red line, which represents corporate earnings. At the end of the red line showing earnings historically are two dots representing...
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