XJO - Bear Posts only (Factors which might cause the markets to fall), page-12060

"Corporate profits in the United States rose by 1.6%"

Wrong! Here is what FactSet have reported on 1 Sept (yesterday) for both Q2 & Q3...

For Q2 2023, the blended (year-over-year) earnings decline for the S&P 500 is -4.1%. The second quarter will mark the third straight quarter of earnings declines reported by the index.

For Q3 2023, 73 S&P 500 companies have issued negative EPS guidance and 42 S&P 500 companies have issued positive EPS guidance.

So, Q2 is bad and Q3 is likely to be even worse with nearly double giving negative Q3 guidance.

=> The US market is a house of cards held up by 7 over-hyped AI bubble stocks.

https://advantage.factset.com/hubfs/Website/Resources%20Section/Research%20Desk/Earnings%20Insight/EarningsInsight_090123.pdf