Companies lower full-year sales and profit guidance due to higher interest rates and China's economic weakness, causing earnings disappointment.
Global earnings disappoint, with companies lowering full-year sales and profit guidance due to higher interest rates and China's economic weakness. This follows a strong run by world equity markets, resulting in "about as expected" earnings feeling disappointing. Companies are facing pressure from the higher-for-longer interest rate environment, affecting their ability to drive earnings and revenue growth.
July 30, 2024
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