CNBC: “Multinational companies are getting clobbered by Trump’s tariffs”By admin_45 in IN THE NEWS
Excerpt from CNBC quoting DataTrek's Nick Colas:
.... "Tariffs along with Federal Reserve interest rate policy are “fulcrum issues for those lofty 2020 Street earnings expectations,” Nick Colas, co-founder of DataTrek Research, said in a note this week. FactSet is projecting a strong rebound next year, with the first quarter of 2020 expected to see earnings up 9.2% and revenue growing 5.9%, while the second quarter is tracking at 12.6% and 6.6% respectively.
“That numbers here are too high is certain. But getting a trade agreement and a weaker greenback at least holds out the possibility that S&P earnings growth will reaccelerate,” Colas wrote. “Otherwise, it seems clear 2020 will look like 2019"....
Read the full article here on CNBC!