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September 01, 2020 10:18am
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The seven reasons why this cycle is different

One of the key risks to the stock market is earnings expectations. As recession risk rises, it has been unusual to see forward 12-month EPS estimates continue to rise. The latest update finally shows that earnings expectations are beginning to stall. S&P 500 estimates are flat for the week, up a miniscule 0.01, while small-cap S&P 600 estimates are down over -1% in the week.

Why haven't stock prices skidded further? Here are some reasons why this cycle is different from others.
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