Earnings season: Here are the 9 S&P 500 companies blaming the trade war for performance or outlook, so far

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 65 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 97%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

With earnings season under way, these are the companies in the S&P 500 that have so far cited trade worries as negative factor in their outlook or...

The long-running trade standoff between the United States and China has often moved markets, as investors have feared the cumulating effect of higher costs and growing uncertainty on corporate performance.

Chairman and CEO Michael McGarry said in a conference call that the company expects “global economy activity to remain sluggish in the third quarter” citing “regional and country trade disputes” as a reason for recent, subdued demand. Chief Executive James Foote said in an earnings call on Tuesday that the “present economic backdrop is one of the most puzzling I have experienced in my career,” while Mark Wallace, executive vice president of sales and marketing, said “obviously what would help in the back half would be a resolution or clarity on trade tariffs.

Chief Financial Officer Greg Lewis said, however, that the company is “taking a cautious view on short-cycle growth as many macro signals: China GDP, U.S.-China trade tensions and Brexit, just to name a few, are still clouding the economic outlook. We think it’s prudent to plan conservatively, given the uncertainties. And our 3Q and second half guidance reflect that.”

“In response, equity volatility were increased, global markets turned risk-off, the U.S. yield curve inverted and client activity slowed across a variety of products as our corporate and investor clients stayed on the sidelines.”The global apparel giant reported fourth-quarter earnings on June 27, missing earnings forecasts.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Listening to them the market should be down 10000 points. How's it doing?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks fall, S&P 500 and Nasdaq post worst week since late MayAll 3 major U.S. indices fell today, ending the week on a loss amid earnings season and remarks from a top Fed official. The S&P dropped 0.61% and the Nasdaq slipped 0.74% while the Dow dipped 0.25%. ClosingBell Great job realDonaldTrump 📉📉📉📉📉📉📉WhiteHouse 🤡🤡🤡🤡talk, markets sink
Source: CNBC - 🏆 12. / 72 Read more »

Stocks end the week lower amid rising tensions in the Middle EastThe S&P 500, Nasdaq Composite index, Dow Jones industrial average all finished lower on Friday.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stocks set to decline for third straight session as earnings remain in focusU.S. stocks were on track for a third straight decline on Thursday as investors monitored corporate earnings and trade developments. The S&P 500 fell...
Source: MarketWatch - 🏆 3. / 97 Read more »