Global Spotlight
The European Union and Africa. The European Commission will publish its EU-Africa strategy on March 9 as it hopes to forge a new relationship with Africa.
Afghan Peace Process. Talks between the Afghan government and the Taliban are scheduled to begin March 10, following the Feb. 29 signing of a landmark agreement between the United States and the Taliban.
EU Industrial Strategy. After months of suspense, the European Commission will unveil its industrial strategy plan on March 10.
The ECB Governing Council Meets on March 12. The European Central Bank is under pressure to respond to the U.S. Federal Reserve’s 50 basis point rate cut and markets are pricing in a drop of 10 basis points in the already negative deposit rate banks are paid on reserves held at the central bank.
Russia’s Proposed Constitutional Changes. On March 10, the Russian Duma will vote on constitutional amendments that President Vladimir Putin proposed in January, and which could see their final approval as early as the next day.
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.
Earnings
Source I/B/E/S data from Refinitiv
Aggregate Estimates and Revisions
- Fourth quarter earnings are expected to increase 3.1% from 18Q4. Excluding the energy sector, the earnings growth estimate is 6.0%.
- Of the 492 companies in the S&P 500 that have reported earnings to date for 19Q4, 69.9% have reported earnings above analyst expectations. This compares to a long-term average of 65% and prior four quarter average of 74%.
- 19Q4 revenue is expected to increase 5.8% from 18Q4. Excluding the energy sector, the growth estimate is 7.1%.
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