US Home Sales Accelerate as Corporate Earnings Boost Wall Street

Gerard Caffrey of J.P. Morgan Asset Management is optimistic on stocks, expecting them to power through short pullbacks due to strong corporate earnings growth of 22% or more this year and next.

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US Home Sales Accelerate as Corporate Earnings Boost Wall Street

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Caffrey sees stocks powering through pullbacks, implying a bullish view on equities broadly, which includes the Nasdaq 100.

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The positive housing data and broad earnings optimism suggest a favorable environment for small caps as well.

Existing home sales in the U.S. accelerated to their fastest pace of the year in May, with first-time buyers accounting for 35% of sales, the highest share since June 2020. Investor share fell.

Denise Pellegrini
Gerard Caffrey of J.P. Morgan Asset Management is among the most optimistic on Wall Street, seeing stocks powering through any short, sharp pullbacks as corporate earnings growth underpins sentiment.

Denise Pellegrini
Gerard Caffrey

Profits are on track for growth of 22% or more this year, and the same is likely in 2027.

Corporate earnings growth underpins sentiment, allowing stocks to power through short, sharp pullbacks.

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