Investing.com -- Third-quarter earnings downgrades have been significant across major regions, with persistent cuts in both the U.S. and Eurozone, JPMorgan strategists said, reflecting growing concerns about slowing topline growth and macro uncertainty.companies has been substantially lowered. It notes that"the hurdle rate has come down for Q3, suggesting the bar for surprises is lower."
“The differential between Mag-7 and the rest of S&P500 earnings growth is likely to continue narrowing,” the note writes. Regionally, European earnings have faced even more significant cuts than in the U.S. For the Eurozone, Q3 EPS growth projections have shifted from 4% growth to a 2% contraction. “Profit margins at index level are above past averages, in both the US and in Europe. They could stay so, barring some mix deterioration,” the firm added.
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