Wall Street predicts a sharp drop in second-quarter earnings

Wall Street analysts expect a sharp decline in income in the United States at the end of the second quarter. The prerequisites for this are rising prices and a reduction in consumer spending. In addition, the profits of major U.S. players doing business in China - including Apple - may decline amid weakness in the Chinese economy, whose growth after the lifting of anti-Kowitz restrictions was not as active as expected.

Analysts are already calling its pace disappointing. According to Ross Mayfield from Baird, economic development in China has not met expectations on all counts, and the situation is exacerbated by the lack of active stimulus measures from the government of the country; this will adversely affect the earnings of U.S. and European companies, he said.

China's GDP in the second quarter showed growth of 0.8%, which is significantly less than in the first quarter (2.2%). In relation to the second quarter of last year, the gross product rose by 6.3%, but last year's weak results are having an impact here. The weak statistics had a negative impact on the Chinese stock market - the Shanghai Composite rose by only 2.6% this year.