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BANK OF AMERICA: We're heading for an earnings recession
"Dan Suzuki and the equity strategy team at Bank of America Merrill Lynch have trimmed their earnings per share expectations for the S&P 500 to $117.50 from $119.50, implying the first year of negative earnings-per-share growth since 2009."
Don't think a recession is in fourthcoming. Profit margins, however, have been declining as the dollar strengths in last several years. Earning on the other hand is easily managed (more like manipulated) to meet the street' expectation. On top of the valuation consideration, European market present better opportunity in near term.
Comments
One discovers that this article is from April 7, at 7:57am.
Does this indicate that the "money movers" have not read this or that they (some) don't agree or just don't care???
Otherwise, I would have expected the equity markets to have begun a sell-off.
Catch
(BTW: Absolutely no hard feelings on our difference of opinion on this.)