sábado, 18 de febrero de 2023

SP500: los beneficios empresariales dan pistas


 Corporate earnings have been trending in an upward channel for 70 years. 

 

Every time profits reached the upper band of this range, an earnings recession followed. 

 

At peak levels, we are at a critical juncture once again.

 

This is an important consideration, particularly at a time when almost every analyst on wall street expects double-digit growth for the next couple of years.

 

▪️ Wage price spiral

▪️ Elevated material costs

▪️ Rising deglobalization trends

▪️ Higher cost of capital

 

All these factors are likely to impact margins going forward.

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