NVDA Sep 2024 2220.000 call

Earnings expectations are 'too rosy,' but recession is unlikely

Ned Davis Research chief US strategist Ed Clissold joins Market Domination Overtime to give insight into recent economic data, share takeaways from the first half of the year, and make predictions about the market moving forward. Clissold notes that a recession is not a scenario that he foresees: "Now I mentioned earlier earnings expectations second half probably a little bit too rosy. Consensus estimates about 20% for Q3 and Q4 versus the previous year. It's probably more like high single digits to low double digits. So there'll be some downward revisions," he notes. He adds that the "bigger risk" is that after a strong first half of the year, "a lot of people are in the market. So a little bit of bad news could cause a pullback, but we'd be looking for a pullback to maybe a small correction. Not necessarily a bear market. " For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino