The US Q2 earnings season kicks off today. The news is likely to be downbeat, with the annual growth rate of profits reportedly expected to be negative for the first time since 2009. In recent months investors have shrugged off this prospect and sought solace in the Fed and the ECB. But history is not on the side of those who expect the market to continue to prosper once the earnings cycle has turned.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.