Overall earnings may be little changed in 2019 above last years record pace, according to an analyst at Refinitiv.Consumer and Definsive sectors will post some gains.
Here's the good news on earnings: Despite much hand-wringing around tariffs and the global economic outlook, overall earnings for the S&P 500 in 2019 remain "flattish," meaning they are likely to be little changed from 2018's record pace."The wild card is trade because you really don't know if you are going to get a tweet one day that is going to change the dynamics of the trade war," David Aurelio, who tracks earnings for Refinitiv, told me.
What's clear is that concerns about tariffs and overall global growth are starting to take a toll on the sectors that are most exposed to the global economy, particularly energy, materials, and industrials, all of which have seen declines in earnings estimates for the third quarter between July 1 and the present.
Energy, for example, has seen earnings estimates decline 14.6% from July 1 to today, an unusually large downward revision.Materials have also seen a double-digit decline thanks to large reductions in estimates for
My first negative story about the economy in the morning