U.S. Stocks no Longer Look More Attractive than Developed Market Peers
Dow Jones10-14
1001 GMT - U.S. stocks no longer look more attractively valued than developed market equities elsewhere in the world, RBC Capital Markets' Lori Calvasina says. Moreover, flows into U.S. equity funds are deteriorating while funds for western European stocks marginally improve, the strategist says. It is too soon to call a rotation out of U.S. stocks, but "the dial does seem to be slowly turning in that direction." A Republican sweep in the upcoming midterm elections would buoy U.S. stocks, but that outcome looks unlikely, the strategist says. The S&P 500 is up over 14% so far this year, compared to a 7.9% gain for the Europe-wide Stoxx 600 over the same period.
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