Daily commentary: On the global growth slowdown and US multinational earnings

The link I want to highlight today is on the relationship between the slowdown in growth globally and US multinational earnings. Estimates for earnings growth have started to erode already because it is now clear that US firms cannot make up for the slow domestic growth with outsized growth abroad. Not only is Europe in recession but other countries are in a slowdown mode as well. The result is an erosion of earnings growth at companies in the S&P500. This effect is mostly about top line...

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