Investors prepared for the latest batch of earnings that's handed Wall Street banks some of their best results even as other industries are poised to slump.
“China growth weakness has been brewing in the background for months,” said Pooja Kumra, senior European rates strategist at Toronto Dominion Bank. “Clearly growth has not been able to keep pace with expectations in the first quarter.” Earnings are set to provide crucial direction for markets, with hundreds of companies reporting over the next few weeks. S&P 500 firms are expected to post a 9 per cent drop in profits in the second quarter, making it the worst season since 2020, according to data compiled by Bloomberg Intelligence. In Europe, it may be even worse, with a projected 12 per cent slump.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »