Reported about 4 hours ago
As the third quarter earnings season approaches, Federated Hermes chief equity strategist Phil Orlando predicts slower growth compared to Q2. While second quarter earnings rose around 11-12%, Q3 growth is expected to be only about 3-4%. Orlando foresees a similar trend for major tech stocks, with anticipated growth slowing significantly from 60% to between 15-20%. He advises investors to adopt a defensive strategy by focusing on undervalued sectors, particularly small-cap and international stocks, amidst ongoing market uncertainties.
Source: YAHOO