Wall Street’s 2023 earnings estimates are starting to roll in, and they’re not bullish for the stock market

Over the long-term, corporate earnings growth and stock prices have a direct relationship. Goldman Sachs downgraded its outlook to 0% earnings per share growth for the S&P 500 next year, and they could get worse. “In a recession, we expect S&P 500 EPS would fall by 11%,” Goldman Sachs’ David Kostin said. Something is loading….