2 Question Tuesday – 04/18/2023 – Earnings Expectations & Is Bank Of America Right About Stocks And Recession?

Welcome to 2 Question Tuesday. This week’s client submitted questions were:

  1. What do you expect from earnings this month?
  2. Is Bank of America right about stocks and a recession?

Phil, Mike, and Larry talk about how earnings season will provide the next test of how companies have managed headwinds like banking system stress, higher rates and slowing demand. All lead indicators point to a deeper profit recession than expected. They then discuss Bank of America strategist Michael Hartnett, who said Wall Street’s attitude toward stocks is the most negative in several years. He said the recent rally will fail and that investors should avoid U.S. stocks as expectations of a recession have become universal. He’s also very negative on technology shares, which he thinks will come under pressure from increased regulatory scrutiny and higher interest rates.

Submit your questions to question@2questiontuesday.com

As always, if you have any questions at any time, please feel free to call your adviser directly at (845) 691-4035.

Special guest host Lawrence Carrel’s books available available at Amazon.com