Phil, Mike, and Larry talk about how earnings season will provide the next test of how companies have managed headwinds like banking system stress, higher rates and slowing demand. All lead indicators point to a deeper profit recession than expected. They then discuss Bank of America strategist Michael Hartnett, who said Wall Street’s attitude toward stocks is the most negative in several years. He said the recent rally will fail and that investors should avoid U.S. stocks as expectations of a recession have become universal. He’s also very negative on technology shares, which he thinks will come under pressure from increased regulatory scrutiny and higher interest rates.

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