Happy Monday. Good Luck out there this week.
Global Spotlight
A Slow Economic Restart in Iran. President Hassan Rouhani announced that beginning April 11, some low-risk economic activities could resume in Iran for the first time since the economy slowed in late February due to the country’s serious COVID-19 outbreak.
Brexit Talks Resume, Sort of. Next week, the European Union and the United Kingdom could make some timid progress in their efforts to resurrect free trade agreement negotiations frozen in early March due to the COVID-19 pandemic.
South Korean Legislative Elections. Voters April 15 will determine what the makeup of the East Asian country’s National Assembly will be for the remainder of South Korean President Moon Jae In’s term, which ends in 2022.
IMF and World Bank Meetings. A high-level review of the global economic outlook, financial stability and effect of the COVID-19 pandemic on developing countries will take place April 14-17 as the International Monetary Fund and World Bank hold their spring meetings via teleconference.
Chinese Economic Data. China will release its first-quarter GDP data on April 16, providing a backward-looking view at the damage wrought by COVID-19 on the domestic economy — or at least the official version of that damage.
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
- 20Q1 earnings are expected to decrease 9.0% from 19Q1. Excluding the energy sector, the earnings growth estimate is -7.5%.
- Of the 21 companies in the S&P 500 that have reported earnings to date for 20Q1, 76.2% have reported earnings above analyst expectations. This compares to a long-term average of 65% and prior four quarter average of 74%.
- 20Q1 revenue is expected to increase 0.7% from 19Q1. Excluding the energy sector, the growth estimate is 1.9%.
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