Global Spotlight
Russia-Ukraine tensions soar even higher as Donbas separatists evacuate civilians. Russia-Ukraine tensions will continue to climb next week as the Russian-occupied Donbas separatist republics evacuate their territory and repeat dubious claims that a Ukrainian attack is imminent.
Russia-Ukraine tensions soar even higher as Donbas separatists evacuate civilians. Russia-Ukraine tensions will continue to climb next week as the Russian-occupied Donbas separatist republics evacuate their territory and repeat dubious claims that a Ukrainian attack is imminent.
Libya’s House of Representatives poised to approve a new government. Libya’s parliament based in the eastern half of the country could support a new government, dubbed the Government of National Solidarity, as early as Feb. 24.
South Africa’s finance minister delivers an annual budget speech. Finance Minister Enoch Godongwana will give South Africa’s annual budget speech Feb. 23, outlining national economic priorities for the 2022-23 fiscal year.
Mexican autoworkers hold a union vote. Workers at the Tridonex factory in the northern border city of Matamoros will vote Feb. 21 to select union leadership. The election comes after the plant’s U.S. parent, Cardone, was audited under the United States-Mexico-Canada Agreement for not allowing employees to select their union freely.
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
- 21Q4 Y/Y earnings are expected to be 31.8%. Excluding the energy sector, the Y/Y earnings estimate is 23.3%.
- Of the 417 companies in the S&P 500 that have reported earnings to date for 21Q4, 77.9% have reported earnings above analyst estimates. This compares to a long-term average of 65.9% and prior four quarter average of 83.9%.
- 21Q4 Y/Y revenue is expected to be 14.5%. Excluding the energy sector, the growth estimate is 10.3%.
- During the week of Feb. 21, 55 S&P 500 companies are expected to report quarterly earnings.
Macro Market
Here is a quick look at where the SP 500 has been over the past 3 years. Notice a couple of things.
- The SP 500 is testing a previous support level around 4200. That is my line in the sand.
- The SP 500 is holding up with all the negative that is in the media today.
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