Earnings: Where the Q2 Surprises Could BeDavid Bogoslaw
The pullback in equity indexes on July 2 in response to the larger-than-expected drop in June nonfarm payrolls shouldn't have been a surprise, as light preholiday trading probably exacerbated the data-driven sell-off. But the disheartening employment snapshot doesn't necessarily bode any worse for second-quarter corporate earnings than what most investment strategists and economists were already anticipating.
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