Company profits will be the weakest since the pandemic: Goldman Sachs

As markets head into first-quarter earnings season, Goldman Sachs strategists say corporate profits are set for their steepest decline since the start of the COVID-19 pandemic in 2020.

"However, if analyst projections are realized, this quarter will represent the trough in S&P 500 earnings growth. Materials and Health Care are expected to report the largest earnings declines," the note reads."Communication Services and Info Tech stocks are also expected to announce dramatic EPS declines despite recent surging share prices of some of these sectors' largest constituents.

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