Morgan Stanley Strategist Says Earnings Are Next Risk to Equities

Bloomberg2023-03-27

Earnings projections look ‘unrealistic’ amid recent events: MSJPMorgan strategists note 1Q marked the high point for stocksMichael Wilson Photographer: Christopher Goodney/BloombergMorgan Stanley’s ...

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Comments

MIe
2023-03-27
MIe
Big tech q1 earnings in May should be good with year if efficiency 😊
Deonc
2023-03-27
Deonc
Ok

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Whereas bond volatility has spiked as investors priced in a potential recession following the collapse of a slate of regional US lenders, equities have recovered losses on bets of intervention from policy makers. The S&P 500 is on course to gain for a second straight quarter.Focus now turns to the first-quarter earnings season, which kicks off in mid-April. The drop in profit estimates so far this year has matched the declines seen in the previous two quarters, suggesting earnings haven’t bottomed yet, Wilson said. Given expectations of a sharp profit recovery in the second half, the threat to margins from elevated inflation is still “underappreciated,” he added.JPMorgan Chase & Co. strategists also said that the first quarter likely marked “the high point” for stocks this year, and that they don’t expect a “fundamental improvement in equities risk-reward” until the Federal Reserve signals rate cuts. Moreover, after both bonds and stocks moved in the same direction last year, an unusual occurrence, rising recession odds this year will likely invert that relationship again, the team led by Mislav Matejka said.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9941937655,"gmtCreate":1679913965578,"gmtModify":1679913968776,"author":{"id":"3577182936341023","authorId":"3577182936341023","name":"MIe","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":0},"htmlText":"Big tech q1 earnings in May should be good with year if efficiency 😊","listText":"Big tech q1 earnings in May should be good with year if efficiency 😊","text":"Big tech q1 earnings in May should be good with year if efficiency 😊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9941937655","repostId":2322206448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9941936810,"gmtCreate":1679912733830,"gmtModify":1679912737489,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":1},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9941936810","repostId":2322206448,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":12,"commentSize":0,"repostSize":1,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2322206448"}