Doubts increase on Wall Street that Q1 will be earnings low point
Markets could be roiled depending on what or if any information is released from special counsel Robert Mueller’s report on Russia election meddling and the US-China trade stand off
New York — As Wall Street braces for what may be the first US profit decline since 2016, investors say the first quarter may not mark the low point for 2019 earnings. In the immediate term, markets could be roiled depending on what or if any information is released from special counsel Robert Mueller’s report on his investigation into Russia’s role in the 2016 US presidential election, which was submitted to attorney-general William Barr late on Friday. Concerns about economic weakness in the US and abroad and the lack of a US-China trade deal are hanging over the longer-term outlook, even as the Federal Reserve’s dovish stance on interest rates is expected to relieve some of the pressure on companies and the economy.
In a troubling sign for the US outlook, a report on Friday showed US manufacturing activity unexpectedly cooled in March, and the spread between three-month Treasury bills and 10-year note yields inverted for the first time since 2007. An inverted Treasury yield ...
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