Bank of America: S and P 500 and #39;s Extremely High Valuations Are the 'New Normal and #39;
* 'Improvements Facilitated by Artificial Intelligence, Coupled with Streamlined Labor Spending, Should Lead to a Productivity Boom Not Seen in Decades,' Says BofA Strategist
The extremely high valuations of S and P 500 stocks are the 'new normal' because the internal structure of the market is very different from what it was a few decades ago, says Savita Subramanian, an equity strategist at Bank of America (BofA), Business Insider reports.