Strong earnings keep stock-market bulls in charge. What could bring the rally to a halt? - MarketWatch
1. S&P 500 P/E ratio surged to 21.5, highest since February. 2. 78% of S&P 500 companies reported positive EPS surprises. 3. Earnings estimates for 2025 downgraded amid tariff concerns. 4. Recent trade negotiations ease tensions but raise stock valuation questions. 5. High Treasury yields could threaten stock market returns.