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Pressure of Strong Dollar is Easing on U.S. Stocks

Pressure of Strong Dollar is Easing on U.S. Stocks

The strong dollar is hitting the results of large U.S. multinationals so far this earnings season. But there is reason to expect a brighter outlook in 2023. From recent corporate reports: + Johnson Johnson said Tuesday that total revenue fell by 4.4% from a year earlier in the fourth quarter. But sales actually grew by 0.9% before the impact of translating foreign currency revenue into dollars. + Microsoft reported Tuesday that sales grew 2% in its fiscal second quarter, but grew 7% excluding th