Excerpt from CNBC quoting DataTrek Research:
…. ” What makes it easier for the bulls to stay bullish are the direction of interest rates. The markets are becoming more dependent on the belief that dovish central banks will provide a backstop to slower global growth — and they do have history on their side. In a recent note, DataTrek noted that earnings for 2014 to 2016 were essentially flat, but the S&P was up 28% during that period, thanks to lower long-term interest rates”….
Read the full article here on CNBC!