Happy Monday. Good Luck out there this week.
Global Spotlight
The Belarusian opposition movement’s Sunday protests. The opposition will try to gather protesters from across the country in the capital of Minsk.
The Israeli unity government’s budget deadline. Israel must pass a budget or pass a bill delaying the deadline by Monday or the country will face yet another election, this one in November.
The Federal Reserve Bank of Kansas City’s economic policy symposium. Usually held in Jackson Hole, Wyoming, this year’s meeting will be streamed live to the public on Aug. 27-28.
The Nigerian government nears a final petroleum industry bill. A new version of the measure could be introduced as early as next week.
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
The S&P 500 is 0.44% below its all-time high and is up 4.46% YTD.
Earnings
Source I/B/E/S data from Refinitiv
Aggregate Estimates and Revisions
- 20Q2 earnings are expected to be -30.5% from 19Q2. Excluding the energy sector, the earnings growth estimate is -23.9%.
- Of the 475 companies in the S&P 500 that have reported earnings to date for 20Q2, 81.7% have reported earnings above analyst expectations. This compares to a long-term average of 65% and prior four quarter average of 71%.
- 20Q2 revenue is expected to be -8.9% from 19Q2. Excluding the energy sector, the growth estimate is -4.2%.
- During the week of August 24, 16 S&P 500 companies are expected to report quarterly earnings.
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