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Stock market 'on cusp' of important test: Watch this S&P 500 level if 2022 low gives way, says RBC

Por: MarketWatch Business September 26, 2022

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In Calvasina’s view, the 3,500 level is important as it’s “the point at which a median recession would be priced in,” perhaps drawing in some investors to buy the dip. That’s because at that level, based on RBC’s “below-consensus” earnings-per-share forecast of $212 for 2023, the index’s forward price-to-earnings ratio would fall below average if it hits 3,561, according to Calvasina. “That may open the door for bargain... + full article



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