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100% Chance of Recession

The Breakdown

00:00

Q3 Earnings Season

Corporate profits have not collapsed catastrophically so far. Overall profits for S&P 500 companies are on track for 2.2 percent growth in Q3 with profit growth projected to sit at 5.7 percent for 2023. Morgan Stanley reported that its research customers still view earnings forecast for next year remain too high, indicating sentiment that there could be more downside in earnings compression to come.

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