Bearish
$SPY $TVIX By Mark Kolakowski Updated Nov 7, 2019 CEOs are less confident about the future than they have been at any previous time since the global financial crisis of 2008, per a new report by Goldman Sachs. This has troubling ramifications for the equity markets and the broader U.S. economy. After the U.S.-China trade conflict intensified in May, cash outlays by S&P 500 companies in 2Q 2019 dropped by 13% on a year-over-year (YOY) basis, including an 18% plunge in spending on share repurchases. Goldman projects that, for full year 2019, total cash spending by S&P 500 companies will decline by 6%, the sharpest annual drop since 2009, per their current U.S. Weekly Kickstart report. 1
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