Financial Services Industry
Industry: Email Alert RSS FeedMorgan strategist bearish on profits.
Investment News, November, 2001
Don't look for earnings to increase for the broad Standard & Poor's 500 stock index until 2003, says Stuart Schweitzer, global investment strategist for J.P. Morgan Fleming Asset Management, a unit of J.P. Morgan Chase & Co. in New York.
Even with changes in accounting practices next year that could help balance sheets, operating earnings for the S&P 500 will drop around 5%, he says. And that's after falling close to 20% this year.
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