You need to hear this story.....
The market is now expecting higher interest rates and a recession. But earnings estimates for the next year don't seem to reflect that.
Each week, FactSet puts out a comprehensive collection of earnings projections.
According to the most recent report, if you add up all the earnings estimates for the firms in the S&P 500 Index, earnings are expected to climb an average of 4.9% this year...
That number has come down from mid-2022 estimates for around 13% growth – but that's still not much of a recession to me...
So either the recession isn't coming, or earnings are going to disappoint.
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