Happy Monday. Good Luck out there this week.
Global Spotlight
A Chinese space launch. China is expected to launch the core module Tianhe-1 of the Tiangong orbital space station around April 29, which is scheduled to be constructed and staffed by the end of 2022 over 11 separate launches.
U.N.-backed talks on Cypriot sovereignty. The United Nations has called for talks April 27-29 in Geneva between Turkey, Greece, the United Kingdom and Cypriot authorities to sort out whether a path forward exists for new talks on Cypriot sovereignty.
The Southern African Development Community discusses Mozambique. The SADC will discuss the jihadist insurgency in Mozambique on April 29 and review a technical report on the situation.
EU countries soften their lockdown measures. Several EU countries including France, Italy, Belgium and Poland will start relaxing social distancing measures on April 26, and have announced additional relaxations for May.
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.
Thge S&P 500 is now 11.3% up YTD. After the big dip on Thursday, the market shrugged off the Biden tax plan and ocontinued to roll on.
Earnings
Source I/B/E/S data from Refinitiv
Aggregate Estimates and Revisions
- 21Q1 earnings are expected to be 33.9% from 20Q1. Excluding the energy sector, the earnings growth estimate is 34.9%.
- Of the 123 companies in the S&P 500 that have reported earnings to date for 21Q1, 85.4% have reported earnings above analyst expectations. This compares to a long-term average of 65% and prior four quarter average of 76%.
- 21Q1 revenue is expected to be 9.9% from 20Q1. Excluding the energy sector, the growth estimate is 11.2%.
- During the week of April 26, 180 S&P 500 companies are expected to report quarterly earnings.
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