Global Spotlight
Next Week: The Persian Gulf region is on edge as it awaits Iranian retaliation for the killing of Gen. Qassem Soleimani, head of the Islamic Revolutionary Guards Corps’ Quds Force, by a U.S. drone strike in Iraq.
Jan. 7: Spain’s interim prime minister, Pedro Sanchez, probably will win a vote of investiture in parliament on Jan. 7 that will allow him to lead the country’s first coalition government.
Jan. 11: Taiwan holds general elections on Jan. 11 that could shape cross-strait relations for years to come. Polls suggest that incumbent President Tsai Ing-wen will win reelection while her ruling Democratic Progressive Party appears set to retain its legislative majority.
Stratfor.com
Economic Calendar
Briefing.com has a good U.S. economic calendar for the week. Here are the main U.S. releases.
Briefing.com
Last Weeks Numbers
Review Last weeks numbers here.
Last week was low volume grind higher. Normally when I see this type of behavior the trader in me lookks to fade.
Earnings
Source I/B/E/S data from Refinitiv
S&P 500 Aggregate Estimates and Revisions
- 19Q4 earnings are expected to decrease 0.3% from 18Q4. Excluding the energy sector, the earnings growth estimate is 2.0%.
- Of the 16 companies in the S&P 500 that have reported earnings to date for 19Q4, 87.5% have reported earnings above analyst expectations. This compares to a long-term average of 65% and prior four quarter average of 74%
- The 19Q4 blended revenue growth estimate is 4.1%. Excluding the energy sector, the revenue growth estimate is 5.4%.
- 68.8% of companies have reported 19Q4 revenue above analyst expectations. This compares to a long-term average of 60% and prior four quarter average of 58%.
If you find this post helpful, please pass along to the investment community. If you would like to see any additional information, drop us a line and let us know.
