Reported about 16 hours ago
As the first-quarter earnings season wraps up, a bleak economic outlook is overshadowing better-than-expected corporate results amidst rising tariff tensions. Despite a rally in stock markets, companies in the US, Europe, and China are retracting forecasts due to increased costs and diminished consumer confidence from ongoing trade disputes. S&P 500 firms reported significant profit growth, yet the forecast momentum hit a decade low, reflecting a cautious sentiment. Companies across various sectors face tariff impacts, with some issuing multiple profit predictions or withdrawing guidance altogether, as uncertainty persists. However, the tech sector showed resilience, particularly among AI companies.
Source: YAHOO