Recession ahead? By this metric, one's here now: Earnings fall and Wall Street expects 2Q soreness.

  • 📰 KPRC2
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 68%

Business News News

Business Business Latest News,Business Business Headlines

The latest round of corporate earnings is leaving Wall Street with a confounding sense of relief and lingering anxiety. wallst recession kprc2 click2hou

Companies are in the midst of an earnings recession, meaning profits have contracted for two straight quarters, starting with a 4.6% drop at the end of 2022. Companies are in the midst of an “earnings recession," meaning profits have contracted for two straight quarters, starting with a 4.6% drop at the end of 2022.

“With a recession still looming, it’s unlikely that earnings have hit rock bottom,” said Michael Arone, chief investment strategist for State Street’s SPDR Business. “But investors sure are celebrating the first quarter earnings season as if they have. This should leave investors feeling cautious, not confident.”

Utilities and health care companies also has broad contractions, along with communications and technology companies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 80. in BUSİNESS

Business Business Latest News, Business Business Headlines