In this week’s podcast, Nucleus Wealth’s Chief Investment Officer Damien Klassen and Head of Advice Samuel Kerr delve into the complex landscape of 3rd quarter earnings.
The overall trend shows a downgrade in earnings forecasts, signalling a cautious approach by many companies. However, amidst this general downtrend, there exists a noteworthy exception – a group dubbed “The Magnificent 7.” These stocks have not only defied the broader market sentiment but have also showcased remarkable resilience and growth potential.
As we dissect these earnings reports, we observe that the market, while grappling with immediate uncertainties, continues to hold a surprisingly optimistic outlook for 2024. This optimism seems rooted in the belief that current challenges are temporary and that a stronger economic environment is on the horizon.
Samuel Kerr is a Senior Financial Adviser at the MacroBusiness Fund, which is powered by Nucleus Wealth.
The information on this blog contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Samuel Kerr is an Authorised Representative of Nucleus Advice Pty Limited, Australian Financial Services Licensee 515796. And Nucleus Wealth is a Corporate Authorised Representative of Nucleus Advice Pty Ltd.