A $10 Trillion Rally Hinges on Earnings Nobody Has a Clue About
- In the last three months, 80% of S&P 500 firms failed to guide
- Investors will start to demand more clarity: JPM’s Lebovitz
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Remember last earnings season? When companies were reporting their worst quarter since the financial crisis. And nobody dared guess what the future held. Bankruptcy risk was everywhere. Oh, and stocks rallied so hard that $5 trillion got added to share prices.
It’s safe to say investors were in a forgiving mood back then. With stocks up 25% since, the time for patience has passed.