Bank of America’s Subramanian Says S&P 500 Earnings Risk a 10% Drop in 2023

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“We are likely to see some downward revisions [to earnings] and our forecast for profits growth for 2023 is $200 for the


S&P 500


That would mean about a 10% decline in earnings peak to trough.”

That’s Savita Subramanian, head of equity and quantitative strategy at


Bank of America


(ticker: BAC), in a Thursday interview with the Bloomberg podcast “What Goes Up.”