Economic Slump Sends U.S. Stock ‘Buy’ Signal: Chart of the Day
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U.S. economic reports are poised to stop disappointing investors so often and start sending stocks higher, according to Tobias Levkovich, Citigroup Inc.’s chief U.S. equity strategist.
The CHART OF THE DAY displays the Citigroup Economic Surprise Index, which Levkovich used to reach his conclusion in a June 17 report. The index is based on the relationship between the past three months of economic data and the average estimates of economists surveyed by Bloomberg.