Big Tech Earnings Eyed for Market Optimism Despite Banks' Mixed Results
• Big Banks' Q4 earnings left something to be desired, but Big Tech earnings are next up to bat
• Earnings and earnings potential still drive equity prices; 2024-2025 expected 12% earnings growth could shine through
• Dovish Fed in 2024, taking foot off brake, would unlock market potential to focus on fundamentals
• For rally to continue, dovish Fed narrative needs to be reinforced
• Valuations less attractive now at 22X than 18X in Fall, but growth could justify optimism