While this quarter's earnings reports have
crossed a substantially lowered profit bar, future expectations through
the year indicate a recession could be on the way.
Estimates
for the third and fourth quarters have been dropped to levels not seen
since the days of the 2008 financial crisis, below even the muted 2
percent expected level of inflation.
That's an ominous
recession sign for an economy that has barely managed to attain positive growth this year even with the strong level of
earnings beats, according to an analysis by Nicholas Colas, chief market strategist at ConvergEx in New York.
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