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For first time in a decade, U.S. companies to report lower profits on higher revenue?

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For first time in a decade, U.S. companies to report lower profits on higher revenue?

For first time in a decade, U.S. companies to report lower profits on higher revenue?

Wall Street is bracing for large U.S. companies to report a decline in quarterly profits even after raking in higher revenues, something that has not happened in more than a decade.

Pascale Davies reports.

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For first time in a decade, U.S. companies to report lower profits on higher revenue?

On show and at a standstill, just like Q1 earnings for S&P 500 companies this week.

They're expected to fall 2.5 percent, which would be the first quarterly decline since 2016 as New York City's auto show also gets underway.

Company earnings will be crucial to see if the bull market can keep up its pace.

They'll be hoping for a boost from bank results this week.

But that looks unlikely.

Large banks have indicated that muted capital market activity at the start of the year, caused by sluggish trading volumes ,will be a drag on overall results.

Financials are expected to deliver 1.8 percent earnings growth, according to Refinitiv.

But there could be a welcome surprise, as with JP Morgan, which kicked off earnings season on Friday by posting better that expected results.

And the figures may not be so gloomy- as expectations are already low.

(SOUNDBITE) (ENGLISH) WILLIAM O'NEIL & CO., RANDY WATTS, SAYING: "If companies get on these conference calls, in guide to better than for the back nine months of the year, I actually think that could extend the rally.

Expectations are so low and so negative that I think any positive news on the guidance front is going to be really rewarded from investors." Later on in the week- April manufacturing and services PMIs from the U.S., Germany and France- will give a glimpse of their economic health.

And if the U.S'.

Latest trade threats to Europe are taking effect.

But before then on Wednesday- China's Q1 GDP.

Several analysts have said they expect China's growth to rebound amid a slowing economy and as it continues talks for a trade truce with the U.S. But until then, investors await nervously.




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