Earnings season begins in earnest on Tuesday, as JPMorgan Chase led the pack of banks reporting third-quarter results, and the numbers aren’t likely to be pretty. Strategists are saying profits for the Standard & Poor’s 500 (SPX) stock index will be down about 4% — not enough to push the U.S. into a recession, but enough to keep questions alive about whether the economy will generate much growth. The corollary to this is that investors should also take projections that corporate profits will rise 10% in 2020 with a grain of salt, CFRA Research strategist Sam Stovall says. Read More...
Earnings season begins in earnest on Tuesday, as JPMorgan Chase led the pack of banks reporting third-quarter results, and the numbers aren’t likely to be pretty. Strategists are saying profits for the Standard & Poor’s 500 (SPX) stock index will be down about 4% — not enough to push the U.S. into a recession, but enough to keep questions alive about whether the economy will generate much growth. The corollary to this is that investors should also take projections that corporate profits will rise 10% in 2020 with a grain of salt, CFRA Research strategist Sam Stovall says.
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