In another positive sign for stocks, the trough for earnings this cycle is likely in

With investors cheering a soft landing in the economy Friday , they are likely to see another welcome change going forward: Earnings will only get better from here. That's according to analysis by Bank of America, which looked at the changing expectations of Wall Street analysts and historical analysis to determine that the poor second quarter earnings results just reported will be the worst we see this cycle.

"Macro data is still strong, favorable seasonal trends suggest limited downside risk to 2023 EPS." FactSet data shows S & P 500 earnings fell more than 4% on average from the year-earlier period during the second quarter. That marks the fourth straight quarter of declining profits. It's also the biggest year-over-year earnings drop since the second quarter of 2023. "Absent a collapse in demand, 2Q likely marks the trough in earnings," the report stated.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IFA 2023 kicks off as tech companies hope innovations can overcome economic downturnIFA 2023 officially starts on September 1, but the trade show is already holding its two-day media event for journalists.
Source: BGR - 🏆 234. / 63 Read more »