By Mike Pyle, Elga Bartsch, Kurt Reiman, Beata Harasim
Earnings will be key for further U.S. equity gains. Third-quarter earnings season may offer some limited support to U.S. stocks in the near term, as the macro backdrop worsens and a growth rebound is months away. But we see easier financial conditions helping growth and earnings over 6-12 months.
Equities have stumbled this month, as weak economic data has revived recession fears. This comes after central banks' dovish pivot fueled significant multiple expansion. Where to now? We see limited additional monetary easing ahead. This