Excerpt from CNBC quoting DataTrek’s Nick Colas:
…. “Third-quarter earnings are slated to see a 2.4% drop from last year’s third quarter, according to DataTrek Research. The first and second quarter saw 0.4% declines in earnings from the same periods last year. Plus, the fourth quarter is looking like another tough quarter with analysts estimating a 1.1% fall in earnings from 2018.
“Markets rallying to new highs clearly indicates that marginal investors believe 2019′s no-growth earnings will make for easy comps in 2020 if the US-China trade war abates,” said Nicholas Colas,co-founder of DataTrek Research, in a note called “2020: The Year of Easy Earnings Comps”….
Read the full article here on CNBC!