There may be fears that U.S. corporate earnings could face back-to-back negative growth this year, but that doesn't mean there'll be an economic recession, said Joseph Zidle, the chief investment strategist at asset management firm Blackstone.
"Typically, you have more booms and busts in corporate profits than you have in an economy. So I think it's entirely likely that we have an earnings recession ... or something very close to it. But at the same time we don't have an economic recession." He said the biggest drag on earnings is expected to come from the tech sector, with the energy sector also expected to have negative sales growth.
"If we do get the volatility we are expecting in the next few months, I think 12 months from now, equities higher than they are today. That suggests that you buy, and you buy cyclicals — companies that are most leveraged to the global economic cycle — because I see that improving," said Zidle.
Well $BB HAD GREAT EARNINGS BUT IT STILL SOLD OFF, SO STOP WITH THAT BS, ITS MANIPULATION BY MARKET MAKERS MAKING OPTIONS CHEAPER. CROOKS WALLSTREET NEVER BUY OPTIONS, ONLY STOCK ITSELF. OR WALLSTREET WILL CHEAT YOU! NEVER BUY PRODUCTS AND THOSE ARE OPTIONS.
Because FED, thanks for playing.
Who produces these stupid headlines just to scare people...🤔who has an interest in making things look bad prior to 2020, hmmm, let me think🤔
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