Travellers wearing protective masks stand on social distancing markers while waiting in a security line at the San Francisco International Airport on August 11. Not surprisingly, travel and other sectors facing the greatest impact from the stay-at-home directive were among the worst performers this earnings season. Photo: Bloomberg Travellers wearing protective masks stand on social distancing markers while waiting in a security line at the San Francisco International Airport on August 11. Not surprisingly, travel and other sectors facing the greatest impact from the stay-at-home directive were among the worst performers this earnings season. Photo: Bloomberg
Travellers wearing protective masks stand on social distancing markers while waiting in a security line at the San Francisco International Airport on August 11. Not surprisingly, travel and other sectors facing the greatest impact from the stay-at-home directive were among the worst performers this earnings season. Photo: Bloomberg
Kerry Craig
Opinion

Opinion

Macroscope by Kerry Craig

Earnings season: low expectations keep US stock market flying high

  • Actual earning results have been better than forecast, and that’s good enough for the markets. Despite the positive trend, however, the outlook for sectors that rely on the physical presence of people for profits remains bleak

Travellers wearing protective masks stand on social distancing markers while waiting in a security line at the San Francisco International Airport on August 11. Not surprisingly, travel and other sectors facing the greatest impact from the stay-at-home directive were among the worst performers this earnings season. Photo: Bloomberg Travellers wearing protective masks stand on social distancing markers while waiting in a security line at the San Francisco International Airport on August 11. Not surprisingly, travel and other sectors facing the greatest impact from the stay-at-home directive were among the worst performers this earnings season. Photo: Bloomberg
Travellers wearing protective masks stand on social distancing markers while waiting in a security line at the San Francisco International Airport on August 11. Not surprisingly, travel and other sectors facing the greatest impact from the stay-at-home directive were among the worst performers this earnings season. Photo: Bloomberg
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Kerry Craig

Kerry Craig

Kerry Craig is a global market strategist at JP Morgan Asset Management.