'The second driver for this rally in the second half of the year' could be 'better earnings' in addition to continued strength in the economy, says Jim Paulsen.
"The second driver for this rally in the second half of the year" could be better earnings, in addition to continued economic strength, says Jim Paulsen.
The 3,400 level on the S&P 500 could be a real possibility, he says. That would represent a 15% advance from Friday's record finish.Wall Street veteran Jim Paulsen believes stocks could continue to surge well-past their recent recovery to the all-time highs that were last seen before the late-2018 market collapse.
Paulsen characterized corporate earnings for the first three months of 2019 as "much better than feared," pointing out the earnings recession that many had feared at the beginning of the year did not and likely won't materialize. With first-quarter earnings season about halfway done, 77% of companies beat those lower expectations, 6% met, and 17% missed.
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