Global Spotlight
European governments discuss the energy crisis. France will host a meeting of EU energy ministers on May 2 to discuss how to deal with Russia’s decision to halt natural gas supplies to Poland and Bulgaria.
Malaysia increases its minimum wage. Malaysia on May 1 will increase its monthly minimum wage by 25%, from 1,200 ringgit (about $276) to 1,500 ringgit; the change will apply to private employers with five or more employees.
Turkey’s president visits Saudi Arabia. Turkish President Recep Tayyip Erdogan began a state visit to long-time Turkish rival Saudi Arabia on April 29, and the coming days may see a flurry of pledges of cooperation between the two countries.
The Australian central bank debates a rate hike. The Reserve Bank of Australia on May 3 will meet and decide whether to raise interest rates in what would be Australia’s first rate hike in more than a decade.
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
- 22Q1 Y/Y earnings are expected to be 10.1%. Excluding the energy sector, the Y/Y earnings estimate is 4.4%.
- Of the 275 companies in the S&P 500 that have reported earnings to date for 22Q1, 80.4% have reported earnings above analyst estimates. This compares to a long-term average of 66% and prior four quarter average of 83.1%.
- During the week of May 2, 160 S&P 500 companies are expected to report quarterly earnings.
