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Citi: US corporate earnings expectations turn negative for first time in 23 weeks, S&P 500 could face up to 7% decline

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Citi: US corporate earnings expectations turn negative for first time in 23 weeks, S&P 500 could face up to 7% decline

Home / Newsflash / Citi: US corporate earnings expectations turn negative for first time in 23 weeks, S&P 500 could face up to 7% decline

Citi: US corporate earnings expectations turn negative for first time in 23 weeks, S&P 500 could face up to 7% decline

PANews, September 23 — As markets worry that inflation and rising interest rates will erode corporate profits, stock analysts have turned net pessimistic on US corporate earnings prospects for the first time in months. An index from Citigroup shows that the number of analysts lowering corporate earnings expectations exceeded the number raising them for the first time in 23 weeks, ending the longest streak of upward earnings revisions since September 2021. Morgan Stanley strategist Michael Wilson warned earlier this week that the S&P 500 could face a decline of up to 7% if stock valuations continue their recent slide while further gains in energy prices prompt tighter monetary policy.

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