Both Morgan Stanley’s Michael J Wilson and Goldman’s David J Kostin expect corporate profit margins to contract next year given unrelenting cost pressures, they wrote in separate notes. According to Wilson, “the best part of the rally is over.”
The S&P 500 ended down almost 5% after U.S. President Donald Trump’s sweeping tariffs ignited fears of an all-out trade war and a global economic
Shares in Australia and Japan fell at the open. US equity-index futures were steady as trading kicked off in Asia after the S&P 500 declined
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