JP Morgan

Shares of Wipro rose 2.03 per cent on Monday’s trade to close at ₹461.95 on the NSE despite posting weaker-than-expected March quarter financial results. Even analysts remain rather bearish on the stock. The company’s profits rose 5.2 per cent q-o-q. However, the company recorded an 8 per cent profit decline in Q4 at ₹2,835 crore.

As the first-quarter earnings season of the U.S. stock market slowly opened last week, JPMorgan Chase , which has always been bearish on the prospects of U.S. stocksAnother pessimistic warning. JP Morgan strategists are not optimistic about the outlook for corporate earnings this earnings season, believing that except for a few technology giants, most U.S. stock companies will see an overall decline in earnings. They also believe that even if U.S. stock companies perform well in earnings, it will be difficult to push U.S. stocks higher because most of the optimism has been digested in advance. Xiaomo Mo’s pessimistic outlook on Q1 earnings season The team of Mislav Matejka, head of global equity strategists at JPMorgan Chase, wrote in a report that they have lowered their profit expectations for the first quarter of U.S. stock companies. Strategists said first-quarter earnings for most companies in the S&P 500 are expected to decline across the board after excluding several technology giants. Matejka also noted that investor positioning looks “very tight” as the S&P 500 index has risen to a record high. He…