The War Bump Is a False Victory for S&P 500 Profits

Earnings season is upon us, and Wall Street expects companies in the S&P 500 Index that aren’t tied to artificial intelligence to rake in profits. That would be good news if it pointed to a broadening out of earnings growth, but instead the gauge is in a Pyrrhic boom created by President Donald Trump’s war with Iran. It’s a bump that we’ll pay for later.