-- The stock market just finished its best week in almost a year, but lurking beneath the euphoric surface are fears about Corporate America’s profit outlook.Among companies that have issued guidance this earnings season for next quarter and beyond, more have been providing estimates that trail analysts’ expectations. A gauge of forward guidance that compares corporate forecasts with the Wall Street consensus has been lower only once since 2019, data compiled by Bloomberg Intelligence show.
Only about a quarter of S&P 500 companies provide quarterly guidance, and just over half offer it on an annual basis, typically the technology and discretionary sectors. Earnings for most Big Tech companies have been in line or above expectations, though the outlook has dimmed along with broadly higher borrowing costs.
There are plenty of reasons for companies to be wary, ranging from a war in the Middle East to stubborn inflation to a lack of clarity on the economy. The Atlanta Fed’s GDPNow model sees fourth-quarter real GDP growth slowing to a 1.2% annual rate, from a 4.9% pace in the three months through September.
The S&P 500 firms that missed analysts’ earnings estimates have trailed the benchmark’s performance by 3.8% on average a day after the results, the worst showing in a year, according to BI.Bank of Canada voices concerns about variable rate mortgage products -Bloomberg News
مصر أحدث الأخبار, مصر عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
مصدر: BNNBloomberg - 🏆 83. / 50 اقرأ أكثر »