The Tell: As Dow hits new record, ‘one of the most important tailwinds for equities’ is in place

Stocks are on track to end a tumultuous 2020 with a push to all-time highs, stoking fears the market has rallied too far and too fast for its own good. But the rally is accompanied by a rare round of upward revisions to earnings expectations, which have historically tended to offer a strong tailwind, according to analysts at Jefferies.

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