Earnings Are Supportive, But Rich Valuations Limit Potential

Bob Doll reviews the week: mixed markets with the S&P up, weak August payrolls that boosted Treasury prices and Fed-cut expectations, and uneven sector performance driven by MAG-7 strength and sticky inflation.

He concludes that earnings and supportive policy fuel a positive outlook, but stretched valuations, rising long-term yields, and persistent inflation make returns likely bumpy and the risk-reward less favorable.

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