Corporate profits are struggling — here's why
It's all about the energy industry
The U.S. economy rebounded nicely in the second quarter, but corporate profits struggled, says KC Mathews, UMB Bank Executive Vice President and chief investment officer.
"When you look at corporate earnings year-over-year, they declined about 2.5 percent," he says. "And sales growth fell even more than that, down a little bit more than 4 percent. This was the first negative quarter we've experienced since the second quarter of 2009."
It's all about energy, Mathews says. And it's no surprise.
Listen to what he has to say about the energy industry and the future: