XLC - The Earnings Recession In Underway
2024-05-31 12:52:50 ET
Summary
- The preliminary estimate for Q1 corporate profits is -1.7%, well below expectations of 3.9%.
- This could signal the beginning of an earnings recession, as well as an economic recession.
- Thus, the S&P500 could be facing the beginning of a recessionary bear market.
A lingering earnings recession
The US Bureau of Economic Analysis released the second estimate of the Q1 2024 GDP . The highlight is that GDP growth has been downgraded from 1.6% to 1.3%, as expected by the analyst consensus....
The Earnings Recession In Underway