The US stock markets have surged to all-time record highs, fueled by extreme Fed easing. It jawboned about rate cutting, slashed rates, and birthed a new large-scale Treasury monetization campaign. All this has left traders hyper-complacent, assuming the upside will continue indefinitely. But are these lofty stock levels fundamentally justified? The big US stocks’ just-reported Q3’19 results illuminate this key question.
Four times a year publicly-traded companies release treasure troves of valuable information in the form of quarterly reports. Required by the US Securities and Exchange Commission, these 10-Qs and 10-Ks contain the best fundamental