Ned Davis Research chief US strategist Ed Clissold joins industry Domination Overtime to give insight into recent economic data, share takeaways from the first half of the year, and make predictions about the industry moving forward.
Clissold notes that a recession is not a scenario that he foresees: “Now I mentioned earlier earnings expectations second half probably a little bit too rosy. Consensus estimates about 20% for Q3 and Q4 versus the previous year. It’s probably more like high single digits to low double digits. So there’ll be some downward revisions,” he notes.
He adds that the “bigger uncertainty” is that after a strong first half of the year, “a lot of people are in the industry. So a little bit of bad news could cause a pullback, but we’d be looking for a pullback to maybe a small correction. Not necessarily a bear industry.”
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