Excerpt from Bloomberg quoting DataTrek Research:
…. “But even before those announcements, there was increased talk of a looming “earnings recession.” According to DataTrek Research, analysts as of Jan. 4 had predicted first-quarter earnings growth of just 2.9 percent, which is well below the 20 percent or more pace for much of last year. Now those expectations have been cut to 0.7 percent. It’s not much better for the second quarter, where profits are seen rising by a meager 2.4 percent, which is barely above the rate of inflation”….
Read the full article here on Bloomberg!