The US markets have had an impressive run so far this year. The S&P 500 up roughly 25% year-to-date. The NASDAQ, about 28% of a gain. But our valuation’s getting a little stretched, a little high at these levels. Our guest today says, you may expect the upside to be limited in these markets until the earnings can catch up. Dave Sekera, Chief US Market Strategist with Morningstar Research, joins us. David, always great to have you on the program.
Good to see you, Greg.
I feel like this is the big question that investors have after the run we have seen in equity markets this year. Where are we at? Are we justified? What’s your take on the markets?
Well, with US stocks closing back in on their all-time highs, we do think valuations as compared to a composite of the stocks that we cover are getting the be too high at this point. …