Monday, 6 February 2017

Dollar's sudden weakness could help US profit picture

Ripples Advisory Private Limited, Indore @9303093093

Stock investors could have at least one less worry in the next earnings period: the suddenly limp US dollar. The greenback, whose strong rally after the November 8 US election hit profits at many US multinationals in the fourth quarter, has had a sharp reversal since the start of the year. Coupled with comments suggesting that the Trump administration favours a weaker currency, that could shift the picture for the current quarter. 

Fourth-quarter results, even with the dollar's drag, are mostly beating Wall Street's expectations and helping provide a buffer to some of the uncertainties facing investors, including the new US president's policies. The S&P 500 ended with a slight gain for the week.

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