The outlook for corporate profits is likely to receive a boost from the lower Australian dollar, the impact of lower interest rates and a revival in business confidence after the federal election, says UBS strategist David Cassidy.
The bellwether S&P 500 and the Dow Jones Industrial Average were essentially flat, and major foreign indexes were all down (some sharply) during the same period, after a volatile year marked by weak global economic growth, slumping U.S.
corporate profits and uncertainty about the
outlook for the China and the European union.