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S&P 500 valuation is stretched, says Garnry — #SaxoStrats
The benchmark S&P 500 equity index has reached new record highs and according to Saxo Bank head of equity strategy Peter Garnry, the current forward P/E is 17.8.
However Garnry says that a strong dollar and wage pressure are causing headwinds for growth among US companies.
It is difficult to see the S&P 500 post a 20% growth in earnings per share in 2017, he says.
Garnry believes that the valuation of the S&P 500 is stretched.
02:42 minutes
Tags: fed, growth, peter garnry, rate hike, saxobank.com, saxostrats, saxotradergo, sp 500, sp 500 record high, tradingfloor.com
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