MarketWatch: “Here’s what may drive stocks yet higher”By admin_45 in IN THE NEWS
Excerpt from MarketWatch quoting DataTrek's Nick Colas:
.... "The reason is tepid earnings results throughout 2019, according to analysts at DataTrek in a Monday note.
“2019’s no-growth earnings will make for easy [comparables] in 2020 if the U.S.-China trade war abates,” DataTrek co-founder Nicholas Colas wrote.
To be sure, a down day for stocks on Monday because of another setback in trade talks is a reminder that his qualifier “if” is the operative word when thinking about a resolution on tariffs.
Colas said the final three months of 2019 should benefit from comparisons with last year, but Wall Street strategists now expect a 1.1% decline in earnings for the quarter"....
Read the full article here in MarketWatch!