US stocks brace for grim reporting season

Original article by Timothy Moore
The Australian Financial Review – Page: 23 : 8-Apr-19

Michael Wilson of Morgan Stanley expects the quarterly US reporting season to signal the start of an earnings recession. He says the March 2019 quarter is likely to be the first since the June 2015 quarter that the S&P 500 will record year-on-year negative earnings growth. The S&P 500 has gained 15.4 per cent so far in 2019, closing at 2,892.74 points on 5 April. Morgan Stanley expects it to end 2018 at 2,750 points, while Capital Economics forecasts that it will reach a 2019 low of just 2,300 points.

CORPORATES
STANDARD AND POOR’S 500 INDEX, MORGAN STANLEY AND COMPANY INCORPORATED, CAPITAL ECONOMICS LIMITED, FACTSET RESEARCH SYSTEMS INCORPORATED, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, JP MORGAN AND COMPANY INCORPORATED, WELLS FARGO AND COMPANY, THE GOLDMAN SACHS GROUP INCORPORATED

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