NEW YORK ( TheStreet) -- Turns out, this impressive run for stocks that began back in October -- the fourth quarter of 2011 -- may be an extreme example of thinking ahead.
And if it's going to continue, the bulls need company guidance this quarter to back up heady expectations for much further down the road, namely the fourth quarter of 2012 and beyond, because that's when Wall Street believes the bottom line will start to take off again.
FactSet Research said Friday the blended earnings growth rate for the
S&P 500 in the first quarter now sits at 0.0%, or flat, with last year's performance. The firm notes that analysts have been taking down their estimates since the start of 2012, even as the index has rallied 9% this year. Those two counter trends can only co-exist for so long.
"One possible explanation
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