Finance

Market is in a fragile position, PNC warns

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PNC Financial’s Amanda Agati is warning investors the market is in a fragile place on the eve of earnings season because of high valuations and serious risks associated with the Covid pandemic.

“I’m not necessarily convinced that Q1 earnings season is really going to be all that wonderful,” the firm’s chief investment officer told CNBC’s “Trading Nation” on Monday. “The market has absolutely set a very high bar.”

According to Refinitiv, the S&P 500 should have the strongest earnings growth since 2018’s third quarter. It projects Q1 earnings growth will surge 24% from a year earlier.

We’ve seen a lot of those value-oriented stocks, a lot of the lower-quality names, rally pretty hard in…



Source cnbc.com

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