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Are we witnessing a fundamental or speculative rally in the S&P 500?

Wed, 03 Jun 2026 10:28:59 -0400

Investing.com -- The S&P 500 broke above 7,600 for the first time this week, prompting Capital Economics to examine whether the index's AI-driven surge since the end of 2022 has been powered by earnings growth or by investors simply paying more for those earnings. The answer, the firm said, depends entirely on how you measure it.

Chief Economic Adviser John Higgins told investors that the two most common valuation frameworks produce starkly different conclusions.

Using forward twelve-month earnings per share, the rally looks fundamentally driven. Under that approach, EPS growth has contributed significantly more than multiple expansion to the index's advance

Are we witnessing a fundamental or speculative rally in the S&P 500?

Wed, 03 Jun 2026 10:28:59 -0400

Chief Economic Adviser John Higgins told investors that the two most common valuation frameworks produce starkly different conclusions.

Using forward twelve-month earnings per share, the rally looks fundamentally driven. Under that approach, EPS growth has contributed significantly more than multiple expansion to the index's advance

Are we witnessing a fundamental or speculative rally in the S&P 500?

Wed, 03 Jun 2026 10:28:59 -0400

Chief Economic Adviser John Higgins told investors that the two most common valuation frameworks produce starkly different conclusions.

Using forward twelve-month earnings per share, the rally looks fundamentally driven. Under that approach, EPS growth has contributed significantly more than multiple expansion to the index's advance

Are we witnessing a fundamental or speculative rally in the S&P 500?

Wed, 03 Jun 2026 10:28:59 -0400

Chief Economic Adviser John Higgins told investors that the two most common valuation frameworks produce starkly different conclusions.

Using forward twelve-month earnings per share, the rally looks fundamentally driven. Under that approach, EPS growth has contributed significantly more than multiple expansion to the index's advance

Stifel: US non-residential construction spending up 0.1% in March

Fri, 08 May 2026 13:16:36 -0400

Investing.com -- The U.S. Census Bureau reported that total non-residential construction spending increased 0.1% year-over-year in March, following a 0.2% decrease in the prior month, according to Stifel.

Total non-building spending rose 5.1% year-over-year, while building spending fell 3.0% year-over-year.

Within non-building construction, sewage and waste disposal spending increased 7.9%, conservation and development rose 8.5%, and power spending grew 5.7%.

In the building construction category, data center spending surged 33.7%. Manufacturing spending declined 17.4%, and office spending dropped 7.9%.

Stifel noted that data center spending continues to be driven by strength in hyperscaler capital expenditures amid AI investments. The firm said manufacturing faces tougher

Stifel: US non-residential construction spending up 0.1% in March

Fri, 08 May 2026 13:16:36 -0400

Total non-building spending rose 5.1% year-over-year, while building spending fell 3.0% year-over-year.

Within non-building construction, sewage and waste disposal spending increased 7.9%, conservation and development rose 8.5%, and power spending grew 5.7%.

In the building construction category, data center spending surged 33.7%. Manufacturing spending declined 17.4%, and office spending dropped 7.9%.

Stifel noted that data center spending continues to be driven by strength in hyperscaler capital expenditures amid AI investments. The firm said manufacturing faces tougher

Stifel: US non-residential construction spending up 0.1% in March

Fri, 08 May 2026 13:16:36 -0400

Total non-building spending rose 5.1% year-over-year, while building spending fell 3.0% year-over-year.

Within non-building construction, sewage and waste disposal spending increased 7.9%, conservation and development rose 8.5%, and power spending grew 5.7%.

In the building construction category, data center spending surged 33.7%. Manufacturing spending declined 17.4%, and office spending dropped 7.9%.

Stifel noted that data center spending continues to be driven by strength in hyperscaler capital expenditures amid AI investments. The firm said manufacturing faces tougher

Wolfe warns S&P 500 may drop to as low as 6500 before staging another rally