Happy Monday. Good Luck out there this week.
Global Spotlight
Stimulus Plans Around the World. Major Emirati banks will begin issuing the first of a three-month program of support measures on April 1 providing tax relief to major industries negatively impacted by the COVID-19 pandemic, including retail, tourism and aviation.
Afghanistan Prisoner Release. The Afghan government said it would begin releasing prisoners on March 31, a move confirmed by two Taliban spokesmen and the U.S. special representative to Afghanistan.
EU (non)Coordination During the COVID Crisis. The coronavirus crisis is giving Northern and Southern EU members another reason to clash, as national governments cannot agree on common measures to deal with the economic impact of the outbreak.
Waiting for New Numbers out of Asia. Two key Asia-Pacific economies will release further data next week that will grant greater insight into the economic fallout from COVID-19.
U.S. Jobs Report in Context. U.S. unemployment data for March will be released April 3, with a large increase expected from 3.5 percent in February. More pertinent, since it reflects real-time data on the state of the labor market, is the release of new filings for unemployment claims reported every Thursday.
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 3.2% from 18Q4. Excluding the energy sector, the earnings growth estimate is 6.1%.
- Of the 498 companies in the S&P 500 that have reported earnings to date for 19Q4, 70.1% 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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