When is hitting it out of the park not good enough? When it comes to the stock market.
U.S. companies just had their best third quarter since 2010 yet few took notice. Instead, the focus is upon the guidance especially from a few of the top companies like Catepillar.
Wall Street is known for caring little what you did in the past. It is all about what are you going to do in the next quarter or two.
With earnings coming in hot yet guidance cooling, this is causing pause for investors. If companies are turning a bit bearish aout their prospects heading into 2019, why shouldn't investors?
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That's because prices of stocks have grown multifold compared to the earnings, so it's still seen as highly overvalued.
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