An earnings recession - two quarters of declining profits - would be led by the usual suspects, energy and materials companies. But its severity may depend on consumer discretionary companies, which have been warning about profits at an unusual pace. (A sign hangs in front of U.S. flags outside of the New York Stock Exchange in New York - Reuters filepic)
NEW YORK: Wall Street’s bet on the presidential race broke hard for Hillary Clinton this year, as the bankers’ favourite Republican hopefuls fizzled and left the race.
Clinton gathered almost 70 US cents of every US$1 spent in the presidential race by employees of the six biggest US banks in the first quarter, according to data compiled by Bloomberg based on Federal Election Commission reports.
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