by Jharonne Martis.
“Fear and uncertainty continue to spread in the American marketplace as rumors of an impending recession continue to bubble up,” reports Chris Jackson of Ipsos. “While we see some indicators of real weakening, particularly in personal finances, most of the losses this month have been in expectation or forward looking measures suggesting stories of an economic downturn might be a self fulfilling prophecy.”
Jharonne Martis, Director of Consumer Research at Refinitiv, said, “Similarly, the number of retailers warning us not to expect much from them in Q3 has doubled. To date, there have been 38 negative EPS preannouncements for Q3 2019 compared to 15 positive preannouncements. Accordingly, analysts polled by Refinitiv continue to lower Q3 earnings estimates.”
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