Wall Street Strategists Bullish on the US Earnings Outlook

Strategists at some of Wall Street’s biggest banks are upbeat on the outlook for US earnings in the face of the effects of the Iran war after a positive start to the first-quarter reporting season.

Morgan Stanley strategists said gains in S&P 500 earnings-per-share growth — both on a trailing and forward basis — were among signs that a recovery in profits was continuing. A team at JPMorgan Chase & Co. said they expected the reporting season to be reassuring.