"A Fairly High Wall of Worry"

S&P's Sam Stovall says the stock market has some major obstacles and uncertainties to overcome before it can gain ground

Among the issues bugging investors lately are high energy prices, terrorism fears, and the possibility of higher interest rates, says Sam Stovall, chief investment strategist for Standard & Poor's. Plus, the latest earnings warnings from companies such as Veritas (VRTS ) may keep investors on the sidelines. Still, earnings growth for the June quarter is projected to be quite strong, Stovall says. Companies in the S&P 500 are expected to post year-over-year operating earnings growth of 24%, led by technology, materials, and energy outfits.

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