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S&P 500 Profits Get a Lift From the Crack in King Dollar’s Reign
With the Federal Reserve nearing the end of its most disruptive monetary-tightening campaign in a generation, a softening US dollar is poised to boost profit growth for nearly half of the companies in the S&P 500 Index over the next year. As speculation grows that the US central bank plans to halt interest-rate hikes soon, traders are wagering that the dollar, which has declined over 10% from a peak in September, could lose more steam. A pullback in the greenback should, in turn, help companies that sell goods overseas and have been vulnerable to rate hikes and the ramifications of a strong greenback. “The ... (full story)
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