Guiding into the Abyss

First-quarter earnings season is wrapping up with about 90% of constituents in America having reported. Canada is a little farther behind at 70%. As you would imagine, outside of firms providing video conferencing, e-commerce, disinfectant manufacturing or companies making expensive at-home exercise bikes, good news was hard to come by this season. The market as a whole has seen operating earnings for S&P 500 constituents fall 27% compared to Q1 2019

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