Because the coronavirus outbreak continues to weigh on markets, Credit score Suisse on Monday reduce its market forecast for the 12 months and mentioned that earnings development for U.S. firms will probably be near-zero. 

The agency mentioned that what began as a provide chain disruption has advanced right into a "international demand shock," and that there is probably "additional draw back to inventory costs over the near-term" earlier than markets flip a nook.

Chief U.S. fairness strategist Johnathan Golub now sees the S&P 500 ending the 12 months at 3,300, which is about 11% above the place the index at present trades. Credit score Suisse's prior forecast was 3,600. 

The agency additionally reduce its 2020 earnings per share forecast to $165 from $175, for a decline of about 5.7%.

U.S. inventory futures pointed to sharp losses on the open on Monday, with the key indices set to say no 5% and the Dow Jones Industrial Common monitoring for...