Volatility boosts US securities
Tuesday 12 April 1994
Wall Street, which this week begins to report results for the first three months, would otherwise have turned in its first flat quarter of the 1990s, a survey of securities analysts suggests.
Narrowing interest-rate margins and a slowing of investment banking business have already begun to take their toll on 1994 earnings growth.
Of the big public US firms, analysts say only Salomon Brothers is likely to report higher profits for the first three months of 1994. The consensus estimates of several analysts suggest that the full-year profits will actually decline by 10 to 20 per cent.
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