Recap Of Q3 Earnings: Looking Ahead

13 Nov 2023

by Irene Tunkel, Chief Strategist Guy Russell, Associate Vice President

Q3 earnings commentary has been broadly positive, despite intensifying macro headwinds. Going forward, a negative growth outlook and geopolitical risks, are a threat to buoyant earnings expectations. We project that earnings growth for 2024 will move lower than currently projected - a negative for equities. This Santa Claus rally is unlikely to be the start of a new bull market.

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