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CAPITAL FLOWS IN GLOBAL MARKETS
As the first quarter results season concludes, analysts are predicting that S&P 500 company profits fell 3.7% year over year.
Even though 78% of companies exceeded projections, according to data provided by Bloomberg Intelligence, this is less spectacular than it seems because analysts lowered their expectations before the season began.
Even more importantly, corporate America saw a fall in earnings in the second consecutive quarter.
April through June are now the focus of pessimistic earnings expectations, with a 7.3% profit dip pencilled in for the period.
Analysts have revised their estimates for when the profits recovery will begin, saying that the pain from rising interest rates and waning consumer demand will continue until the third quarter of 2023.