Driving home the shifting landscape, almost half of participants say the key for stocks this week will be quarterly results from Apple Inc., Meta Platforms Inc. and Exxon Mobil Corp., rather than the Federal Reserve decision or anything Chair Jerome Powell says Wednesday. The central bank is widely expected to deliver a quarter-point hike on Feb 1, the smallest increase in almost a year.
Investors have little confidence in US stocks even after this month’s surge: Most say the market has yet to hit the bottom amid concern over corporate earnings.
That’s the view of roughly 70% of the 383 respondents in the latest MLIV Pulse survey, with the biggest weighting — 35% — saying the lows won’t be in until the second half of 2023. Fewer than a quarter reckon stocks have already hit their trough. The findings show how shaken investors remain after last year’s pummeling in equities, with worries building over the outlook for company profits as the economy slows.
