We are closing out an extraordinary month: The S & P 500 is up nearly 9%, its fourth-best month in 12 years.
The equal weight S & P 500 is up almost as much as the market-cap weighted S & P 500.
Of the 10 major financial firms, only two (Morgan Stanley and JP Morgan) see the S & P 500 lower next year.
Wall Street strategists' year-end S & P 500 estimates .
That puts the S & P 500 at a very rich multiple of almost 19 times forward earnings (17x is the historic norm).
Persons:
Russell, Morgan Stanley, JP Morgan, Goldman Sachs, Morgan, bullish, Brian Belski, Scott Wren, Wren, That's, JP Morgan's, Dubravko
Organizations:
Wall, Deutsche Bank, BMO Capital Markets, Capital Markets, Bank of America, Barclays, Goldman, UBS Global Wealth, Wells, Wells Fargo Securities, Treasury, Core PCE, Wells Fargo Institute, CNBC
Locations:
Wells Fargo, Atlanta