Optimism around corporate earnings has powered equities to new highs and prompted traders to set aside fears around coronavirus. But Goldman analyst Peter Oppenheimer thinks the market is overestimating the ability of companies to keep growing profits.
"Over the past couple of months the new highs in the market have been driven by lower bond yields and looser financial conditions despite weaker growth prospects," Oppenheimer said."This makes the market vulnerable to earnings disappointments." But Oppenheimer says he understands where investors are coming from. He notes that market participants are likely being influenced by the market's resilience in the face of the 2003 SARS epidemic.
Somebody better check and see what GS shorted this morning b4 they came out with that unsubstantiated bullshit.
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