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Valuations and guidance appear foreboding for U.S. equities

Equities Investment Council
The Nuveen Equities Investment Council is led by Saira Malik and comprises the firm’s senior portfolio managers averaging three decades of investing experience.
Saira Malik
Chief Investment Officer
Equity Market Commentary

The month-long rally in U.S. equity markets hit stiff resistance in mid-August. Surprising resilience in economic data, including consumer spending, employment and July’s cooler-than-expected Consumer Price Index report, helped propel broad-based indexes like the S&P 500 and the tech-heavy Nasdaq out of their bear market lows of June and in to bull market territory.

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Index Performance: FactSet; European Corporate Earnings: I/B/E/S; U.S. Corporate Earnings: Standard & Poor’s; Employment: RBC Global Asset Management; Russell Indexes: FactSet, Russell Investments.

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