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Benzinga

Business

Wayne Duggan

Analyst Cuts S&P 500 Earnings Estimate, Says Recession Risk Rising

Ohsung Kwon Bank of America NYSE United States

The SPDR S&P 500 ETF Trust (NYSE:SPY) is off to a shaky start to 2022, and Bank of America analyst Ohsung Kwon cut his 2022 S&P 500 EPS forecast on Monday heading into first-quarter earnings season.

The Numbers: Kwon is now projecting 6% S&P 500 EPS growth this year, down from his previous estimate of 6.5% growth. Looking ahead to 2023, Kwon is calling for just 4% growth.

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