After the best quarter for U.S. stocks since 1998 ended with equities stuck in a tight trading range, bulls are now pointing at an improving earnings outlook as evidence the next move will be higher.
The S&P 500 rallied 1.5% on Tuesday to end the quarter up 20%. Virtually all of that gain came in April and May, when a flood of stimulus jolted stocks out of their tailspin. Since then, the equity benchmark’s been mired in a 200-point band.
