T he earnings recession is over. Just don’t expect the stock market to celebrate it. CIBC World Markets senior economist Peter Buchanan published his quarterly report on the Canadian stock market’s earnings estimates Monday, and declared that “the forthcoming fourth-quarter earnings reports will mark the end of the earnings recession.” He said the consensus “bottom-up” estimate for the S&P/TSX composite index (i.e., the overall market earnings estimate derived from a range of analysts’ profit expectations for each of the stocks that comprise the index) calls for fourth-quarter earnings to surge 43 per cent over their year-earlier level

January 25th, 2010
Money maker
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