Encouraging to read of the growing confidence around the 2025 earnings outlook for the S&P500. Goldman Sachs believe 2025 eps growth will be ~11%, following on from ~8% in 2024.

For a hot second there, we all thought 2025 was going to be fairly cruisy. The continuation of a strong bull-run, the end to recession fears, a couple of rate cuts. The biggest concern was perhaps the high premiums on stocks like the Magnificent Seven.