But instead of the above risks, Shalett said, investors should be focusing more on these three things.investors ought to brace for a fallout from upcoming earnings"The risk that many companies may miss earnings expectations has grown, especially as more of them pull their guidance due to economic uncertainty," she said.with sky-high valuations.
"Congress will be going into August recess soon," Shalett said. "Failure to extend unemployment benefits would likely expose the growing level of permanent job losses that are appearing below the surface of the economy." She added: "States and municipalities, suffering under the weight of lower tax revenues and increased costs due to the health crisis, need financial backstops. Without income replacement and other offsets, the pain of this recession could bite deeper for many Americans. That could lead investors to reduce risk in their portfolios by selling stocks.
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