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Ryan Detrick, chief market strategist at Carson Group, highlights that the S&P 500 index has risen 168% since 2019 began.
According to Detrick, 137% of the gain came from earnings per share growth, with another 26% attributed to dividends. He challenges the criticism of an 'overvalued' market, stating that the rally is driven by fundamentals rather than multiple expansion.
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Detrick recently discussed the drivers of current market trends in an eight-minute conversation on Schwab Network. Earlier, he highlighted that Mag 7 stocks set a new record and led gains in the S&P 500, with tech and communication services stocks prominent in the advance earlier this year. These observations have focused on factual market movements and sector performance.