A specialist trader works inside his post on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 10, 2022. REUTERS/Brendan McDermid
March 10, 2022
By Caroline Valetkevitch
NEW YORK (Reuters) – Investors are bracing for a hit to U.S. earnings as oil and other commodity costs skyrocket and major U.S. companies including McDonald’s begin to halt sales in Russia following Moscow’s invasion of Ukraine.
Estimates of the earnings growth for S&P 500 companies have barely budged since the invasion began two weeks ago, but strategists expect that to change as more companies give guidance on earnings for this year.
The surge in commodity prices remains the biggest risk to profit growth, they said, since overall S&P 500 companies’ revenue exposure to Russia is relatively small.
Prices “spiked on the Russia-Ukraine turmoil, but they’d been going…
