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Souring S&P 500 Profit Outlook a Bad Sign for Stock Market Rally

(Bloomberg) -- Wall Street analysts are quickly scaling back their forecasts for Corporate America’s earnings growth over the next year, which could pump the brakes on the blistering stock market rally before long.Most Read from BloombergIn Cleveland, a Forgotten Streetcar Bridge Gets a Long-Awaited LiftUnder Trump, Prepare for New US Transportation PrioritiesNYC Congestion Pricing Plan With $9 Toll to Start in JanuaryAmtrak Wins $300 Million to Fix Its Unreliable NJ-to-NYC ServiceZimbabwe City

US utilities want Trump, Republicans to save inflation act, Edison CEO says

The U.S. utility industry wants the incoming Trump administration and Republican-led Congress to preserve clean energy and EV tax credits in the Inflation Reduction Act, Pedro Pizarro, the CEO of utility Edison International said on Saturday. The 2022 IRA contains hundreds of billions of dollars in subsidies for clean energy and is billed as outgoing President Joe Biden's signature law to combat climate change. President-elect Donald Trump, a climate skeptic, has vowed to rescind it, something that would require support of Congress.