By: Steve Smith
By the end of this week, over half of the S&P 500 will have reported earnings. But, investors still seem uncertain and unwilling to commit to a new direction.
This quarter’s earnings reports were supposed to provide some clarity as to whether the economy was heading into a recession, or even slowing enough, to cause a decline in corporate profits. That, in turn, would lead to a resumption of the bear market. Or the results would remain positive enough for the bull to reassert itself.