Wall Street tumbles as investors brace for dour earnings

REUTERS: Wall Street's main indexes slipped on Monday as corporate America launches into what is expected to be a painful quarterly earnings season due to the coronavirus pandemic.

Overall, earnings for S&P 500 firms are expected to tumble 9.0per cent in the first quarter, compared with a Jan. 1 forecast of a 6.3per cent rise, before plummeting 20.7per cent in the second quarter as sweeping lockdowns halt business activity and spark furloughs. The S&P 500 has recovered about 26per cent since hitting a three-year low in March, powered by aggressive U.S. monetary and fiscal stimulus and early signs of a potential peaking in U.S. coronavirus cases, but remains about 18per cent below its mid-February record high amid fears of a deep global recession."The raft of stimulus from the Federal Reserve has distorted stock prices, which have become disconnected from fundamentals.

The outbreak could reach its U.S. peak this week, a top health official said on Monday, as the White House considers when and how to lift stay-at-home restrictions.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Wall Street set to dip as focus turns to earningsU.S. stock index futures declined more than 1per cent on Monday after a strong rally last week, with investors bracing for the earnings season for ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

Futures retreat as focus turns to corporate earningsU.S. stock index futures declined more than 1per cent on Monday after a strong rally last week, with investors bracing for the earnings season for ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

Wall Street set to dip as focus turns to earningsU.S. stock index futures declined more than 1per cent on Monday after a strong rally last week, with investors bracing for the earnings season for ...
Herkunft: ChannelNewsAsia - 🏆 6. / 66 Weiterlesen »

US: Stocks open lower ahead of key earnings, economic data[NEW YORK] Wall Street stocks retreated in early trading Monday ahead of key earnings reports from banks and other companies that will highlight the implications of shutdowns imposed to counter the coronavirus. Read more at The Business Times.
Herkunft: BusinessTimes - 🏆 15. / 51 Weiterlesen »

Asia stocks begin earnings season with declines amid coronavirus uncertaintiesSYDNEY (BLOOMBERG) - Global stocks started the week on the back foot as investors readied for the start of earnings season amid unprecedented uncertainty over the corporate impact of the coronavirus pandemic. Oil prices climbed in volatile trading after a historic deal to cut output.. Read more at straitstimes.com.
Herkunft: The Straits Times - 🏆 8. / 63 Weiterlesen »