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Second Half U.S. Equity Outlook

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We enter the second half with a neutral outlook on U.S. equities. The trade wars' impact on the economy and EPS is the most likely determinant of whether our next move is to upgrade or downgrade. Extreme pessimism readings suggest much of the bad news has been priced in, absent a recession.

Ned Davis Research | Equities | U.S. Focus | Weekly

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