While U.S. stocks managed to eke out a small positive in the first quarter of 2016, bottom-line growth for the same period is coming in negative. It’s the fourth-straight quarter of negative earnings growth for the Standard & Poor’s 500. The last losing streak this long came during the depths of the financial crisis/Great Recession.
It’s been a wild 2016 for the U.S. stock market. Panic-selling began during the first six weeks of the year, followed by a powerful rebound that quickly reversed double-digit losses in large- and small-cap indices. Now the Standard & Poor’s 500 is within sniffing distance of the all-time high attained last May.