Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Singapore Sales Trader
The corporate earnings season has kicked in positively, pushing US benchmark indices higher. As we look ahead to the rest of the earnings season, we note that investors are set to kick into high gear this week. Even though the market continues to expect positive stock returns for 2018, mainly led by solid earnings growth, the elevated trade tensions between the US and China weigh on the prices of many assets. Investors are still hungry for higher returns, but as the US dollar strengthens against other currencies the S&P 500 has failed to break higher.