The principal conclusion is that we expect profit growth to continue through our new forecast horizon,

The principal conclusion is that we expect profit growth to continue through our new forecast horizon.

Our valuation work for the S&P 500 has long assumed moderation of profit growth to about 8 percent from 20 percent and a rise in core inflation.

We expect 1999 and 2000 to be years of ongoing profit expansion, with better aggregate gains than 1998, which was disappointing.

[This year's profit] growth would mainly come from the full-year contribution of the new malls and the opening of its largest mall -- the Mall of Asia.

Evidence is accumulating that growth in the fourth quarter slowed in the euro zone. Two-year bonds should profit from this development.