Happy Monday. Good Luck out there this week.
Global Spotlight
Reopenings in Europe. After almost two months of quarantine measures, several European countries including Spain, Poland and Greece, will allow a greater number of shops to reopen and lift some restrictions on people’s movement.
Indicators of COVID-19 Relapses. Several national and subnational authorities that reopened in late April will be seeing preliminary results from their limited reopenings, which will inform whether they continue rolling back restrictions or reassess their reopening plans.
- Germany allowed small shops to reopen April 20; if the number of new cases continues to drop, it will end a ban on small gatherings May 3.
- The U.S. states of South Carolina and Vermont allowed limited reopenings on April 20.
- Vietnam relaxed social distancing measures across most of the country on April 24.
- Oklahoma, Alaska and Georgia all relaxed restrictions on April 24.
- Spain lifted its shelter-in-place order on April 26, but strict social distancing measures will remain through early May.
A Possible Reemergence of Hong Kong Protests Post-Lockdown. In Hong Kong, the tapering off of the COVID-19 outbreak in the city and the partial removal of restrictions will bring fresh opportunities for a new season of protest activity.
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 12.7% from 19Q1. Excluding the energy sector, the earnings growth estimate is -11.9%.
- Of the 275 companies in the S&P 500 that have reported earnings to date for 20Q1, 67.6% 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 0.2% from 19Q1. Excluding the energy sector, the growth estimate is 1.4%.
- During the week of May 4, 156 S&P 500 companies are expected to report quarterly earnings.
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