According to the survey done by FactSet, revenues of the US companies included in the S&P 500 index are likely to rise by 9% on a yearly basis in the first quarter.

This is up from a 4.9% increase in the fourth quarter of 2016 but below the expected rise of 12.3%. Meanwhile, the S&P 500 has grown by 6.2% so far this year and is close to the record high.

The profit forecasts largely depend on the policy of new US President Donald Trump on tax reduction and boosting infrastructure spending, analysts say. At the moment, markets have no certain idea about the way Trump will fulfill his promises.

Moreover, investors express concerns over possible slower-than-expected US GDP growth. In February, the Atlanta Fed projected growth at 3.4% for January-March. But the forecast has been slashed to 0.9% since then.