Happy Monday. Good Luck out there this week.
Global Spotlight
EU-U.K. talks to resume. Free trade negotiations between the European Union will resume on Sept. 28, just two days before the deadline that Brussels gave London to scrap its controversial Internal Market Bill.
Progress on Nigeria’s long-awaited oil reform bill. Nigerian President Muhammadu Buhari has reportedly signed off on the newest version of the country’s Petroleum Industry Bill, which could be submitted to the Senate as soon as next week.
Hong Kong protesters may defy National Day demonstration ban. With Hong Kong’s controversial extended legislative council term beginning soon and the city’s COVID-19 outbreak easing, the Oct. 1 Chinese National Day holiday will bring an opportunity for protests in the city.
U.S. Secretary of State to visit the Mediterranean. U.S. Secretary of State Mike Pompeo will visit Greece, Italy and Croatia on Sept. 27 to discuss trade, security and religious freedom issues.
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. This week I am looking at the Jill Mislinski’s version of the last week. The S&P 500 $SPX only decreased 0.6%.
Earnings
Source I/B/E/S data from Refinitiv
Aggregate Estimates and Revisions
- 20Q2 earnings are expected to be -30.6% from 19Q2. Excluding the energy sector, the earnings growth estimate is -24.1%.
- Of the 499 companies in the S&P 500 that have reported earnings to date for 20Q2, 82.8% 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 -8.7% from 19Q2. Excluding the energy sector, the growth estimate is -4.0%.
- During the week of September 28, six S&P 500 companies are expected to report quarterly earnings.
If you find this post helpful, please pass along to the investment community. If you would like to see any additional information, drop us a line and let us know.
Of Note
The Visual Capitalist considers the trend toward EV’s. This graphic combines two key questions:
- How far can you go on a single charge?
- How much will it cost?
