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Wall Street faces profit recession as earnings season begins

Severity may depend on consumer discretionary firms, which have been warning about profits at unusual pace

US economy.jpg
Wall Street's fourth-quarter earnings season that is about to get under way could confirm something that many investors may not want to hear: the US economy may be doing well but corporate profits are in a recession.

New York

WALL Street's fourth-quarter earnings season that is about to get under way could confirm something that many investors may not want to hear: the US economy may be doing well but corporate profits are in a recession.

An earnings recession - two quarters of declining