Baird's Spencer Says Earnings, Data Support Markets

The video discusses the economic outlook, focusing on US large caps and the impact of soft economic data. Despite challenges, earnings numbers are strong, supporting market growth. The technology sector is highlighted, with an upgrade in its recommendation due to changing trends and valuations. The discussion emphasizes optimism in tech stocks, driven by positive earnings revisions and low interest rates.

What are the expectations regarding US large caps despite the soft economic data?

How have the earnings numbers changed since 2013, and what impact might they have on the market?

What is the significance of the Philadelphia Semiconductor index in the context of technology stocks?

Discuss the changes in the valuation of technology stocks compared to the early 2000s.

What factors contribute to the optimism surrounding technology stocks in the current market?