00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Wall Street expects strong corporate earnings to support stocks after the S&P 500 fell nearly 4%
00:08since the Iran War began and oil prices rose more than 30%, according to Reuters.
00:14First quarter earnings growth is projected at 14%, compared with 14.4% at the start of the year
00:20and 12.4% in October. Oil supply disruptions through the Strait of Hormuz have driven inflation
00:25concerns and reduced expectations for rate cuts. J.P. Morgan said each sustained 10% rise in oil
00:32prices could cut GDP by 15 to 20 basis points and lower EPS estimates by 2% to 5%
00:38if prices stay
00:39elevated. Analysts said companies remain resilient and earnings expectations have held, while some
00:44firms may lower forecasts to exceed expectations later. For all things money, visit Benzinga.com.
Comments