Market Momentum, Semi Surge, BOJ’s Surprise Shift 7/28/23
Squawk on the Street
00:00
The Market Multiple Is Moving Higher in the Magnificent Seven Stocks
This week has been a key driver here, especially with some of those big tech names. 82% of reports of beat consensus on the bottom line. That's better than the 77% five-year average in up five points just from last week alone. But companies are exceeding expectations by a lesser margin than history. So it's kind of like if you see the writing on the wall, you may ignore it for as long as you can Ignore it but at some point you have to acknowledge that your call was wrong.
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