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Reuters
Cloudy valuations give investors pause in buying beaten-up U.S. stocks
Whipsawing bond yields, surging oil prices and a Federal Reserve bent on squashing the worst inflation in four decades are hampering investors’ ability to assess U.S. stock valuations, even as the market’s tumble creates potential bargains. Without a doubt, stocks are far cheaper than at the start of the year, following a 23% year-to-date decline in the S&P 500 that confirmed a bear market for the index earlier this week. Market volatility and a rapidly changing macroeconomic landscape have clouded metrics that investors typically use to value stocks, such as corporate earnings and Treasury yields, keeping some potential buyers on the sideline.
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