As concerns over a looming recession push stocks to five-week lows, a growing rash of experts warn the volatility should only continue in the coming weeks, as uncertainty grows over the holidays and into the start of earnings season next month, when corporations are poised to reveal just how much the cooling economy has put a dent in corporate profits....
What follows may be worse: In a Tuesday note, Morgan Stanley analysts warned"the high risk" of an earnings recession could push the S&P 500 down to 3,000 points some time in the first quarter, erasing as much as 24% in value as the effects of aggressive Fed policyThe analysts believe companies will start cutting profit expectations during the fourth-quarter earnings season beginning in mid-January and running through February—ushering in the steep market decline as companies start...
Morgan Stanley's Katy Huberty acknowledges the call is"widely viewed as too aggressive" by other Wall Street analysts, but the investment bank also correctly predicted this year's bear market and holds a year-end price target of 3,900—roughly in line with current levels. "Things will get worse before they get better," says Bank of America analyst Savita Subramanian, positing the S&P will fall a less-severe 14% to 3,400 by next summer as corporate earnings fall between 10% to 15%.Thursday, with the Dow Jones Industrial Average at one point tumbling more than 900 points.
I thought the recession was made up by right wing extremist nazis?
State of the market I posted this yesterday. We are in terrible shape
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