Reuters - after rally, gloom takes hold on Wall Street. Whitey is getting ready to piddle his frilly pink girl-panties again:
As S&P 500 companies hand in their first-quarter reports over the next several weeks, average earnings are expected to fall 7.1 percent from the year-ago period, with the energy sector weighing most heavily, according to Thomson Reuters data.Rolls eyes.
"General consensus is that we're going to see declining earnings," said Peter Jankovskis, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois. "The big question is how big are those declines going to be?"