As stock-market investors worry about the damage to equities being inflicted by a jump in Treasury yields, revisions to S&P 500 earnings forecasts may also be souring sentiment.
“After several weeks of seeing Wall Street analysts increase or at least maintain their 2023 and 2024 S&P 500 earnings estimates, the trend reversed to the downside last week,” said Nicholas Colas, co-founder of DataTrek Research, in a note emailed Monday. “This may have played an underappreciated role in last week’s selloff.”
Last…
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