Earlier we reported that according to Goldman, virtually all of its investing clients are “anxious” and/or unsettled” due to rising confusion over Trump policies. As Goldman explained, “‘Unsettled’ is our best description of fund managers’ mindset as the new administration takes office. During an extensive series of client meetings in the US, Europe and Asia, it became apparent that investors are confused about how to best position portfolios under a Trump presidency… Policy uncertainty was a topic of concern raised in every client meeting. While we expect corporate tax reform legislation will be enacted in 2017, the magnitude of cuts and offsetting revenue proposals are unknown.”
Now, we can confirm that based on transcripts from companies reporting Q4 earnings, confusion – and hope – over Trump and his policies has spread to corporate America.
As FactSet analyst John Butters points out, while the majority of S&P 500 companies will report earnings results for Q4 2016 over the next few weeks, approximately 8% of the companies in the index (42 companies) have already reported earnings results for the fourth quarter (through Wednesday).
This post was published at Zero Hedge on Jan 22, 2017.