The S&P 500 stock index’s stunning run since the start of the year has made many bullish analysts look conservative.S&P 500 companies are expected to grow at a modest 1.1 percent in the first quarter, down from a January forecast of more than 4 percent, according to Thomson Reuters data. Just 6 percent of companies have reported thus far, but companies so far have been notably pessimistic, with a 4.7-to-1 ratio of negative to positive warnings.
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