🚨What is next for financial markets? More Pain?🚨

Global markets are consolidating after two week of gains. Energy stocks have outperformed as they track the oil price higher, in contrast to stocks in the financials and consumer staples sectors which are slightly lower. The other remaining sectors posted small gains.

These are some of the issues and developments we are watching:

1⃣ The S&P 500 P/E ratio looks attractive when compared to its historical range — but that may change if earnings estimates fall.