Not only has the market value of U.S. common stock set a new record high, so have the core pretax profits
of U.S. corporations. Third-quarter 2020’s core pretax profits were much greater than anticipated. Rather
than incur a widely expected year-to-year decline, core pretax profits managed to grow by 3.3% from a year
earlier in the third quarter to a new record high.
Read this and more in the Full Moody's report below.

Analyses from Moody’s Capital Markets
Research, Inc. (CMR) focus on explaining
signals from the credit and equity markets. The publications address whether market signals, in the opinion of the group’s analysts, accurately reflect the risks and investment opportunities associated with issuers and sectors. CMR research thus complements the fundamentally...

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