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Worried CEOs Signal Market Earnings Foundation at Risk, Survey Finds

  • Gauge at odds with bottom-up analyst profit estimates: Shalett
  • S&P 500 earnings expected to rise by 10.5% in 2022, data show
Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.

Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.

Photographer: Christopher Goodney/Bloomberg

The last bulwark in equities is in danger of shattering, if the mood of chief executive officers is any indication.

A survey of sentiment among corporate stewards by the Conference Board showed that CEO confidence declined sharply in the second quarter of the year for the fourth straight time. Similar skepticism in the past has always coincided with a recession in profits, Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management, said in a note.