Strategist Savita Subramanian says a recession is coming, and earnings projections will get slashed.Bank of America has been pretty bearish on US stocks this year, but it says that investors who play their cards right have the chance to build an advantage in the weeks ahead.
"For short-term investors, stock differentiation is heightened during earnings season, particularly the busiest reporting days," she wrote in a recent note to clients. "With the SVB collapse in March, data started to notably slow," Subramanian wrote."Overall, macro indicators that we track were largely mixed during the quarter, but the recent softness points to further weakness ahead."
"Consensus 2024 EPS of $247 looks ambitious," she wrote."We think getting back to 2022 EPS of $218 is a good starting point for 2024 EPS, which would suggest actual EPS returning to 'normalized EPS' by next year"
España Últimas Noticias, España Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Stock Market Crash: Bank of America Warns 'Plenty' of Downside AheadBank of America's top global strategist warns there's 'plenty of room for more S&P 500 downside' as 80% of recessions since 1933 have torpedoed stocks by 20% after they started This will be the most predicted recession in the history of capitalism. So call me skeptical
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »
These 6 bullish surprises could power the stock market this year: BofAHere are 6 bullish surprises that could power the stock market through the rest of this year, according to Bank of America
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »