S&P 500 futures and Nasdaq futures were both little changed, having retreated modestly last week.
“We expect companies will be able to meet the low bar set by consensus,” they added. “Negative EPS revisions for 2023 and 2024 appear to have bottomed and revision sentiment has improved.” Fed officials have been mostly hawkish in their communications, while market have also priced in higher rates in Europe and the UK. Canada’s central bank meets this week and markets imply a 67- percent chance of another hike.
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