Significant bounce may ensue in US market
Investors wary of impact of oil bust and US$ boom, with eyes on earnings and ECB moves
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US STOCK indexes started the year with a whimper but there is reason to believe that Friday's rally is the beginning of a significant bounce as this week promises a new round of quantitative easing and more reports of earnings growth.
Investors are approaching earnings season with caution, wary of the implications of the oil bust and the dollar boom for corporate earnings. Yet these lowered expectations may make it easier for companies to deliver positive surprises.
"We expect fourth quarter earnings per share will surprise by 3 per cent versus consensus," said analysts at brokerage Goldman Sachs in a research note. They expect aggregate per-share earnings from the companies listed in the Standard & Poor's 500 to grow by 7 per cent from a year earlier.
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