Wall Street: the weakest earnings growth since the end of 2020?

Posted 30 June, 2022

While inflation and Fed data remain the most impactful for markets, corporate earnings should be the next key area with the second quarter financial reporting season just weeks away. This harks back to concerns that consensus earnings-per-share estimates may need to be revised down to reflect slowing growth caused by tightening financial conditions, as well as still-elevated input price and currency pressures. Debates remain open on the extent of the adjustments, and the market will be particularly interested in the orientations concerning the second half. Analysts are currently expecting S&P 500 earnings (per share) to rise by 4, 3% year-over-year in the second quarter, which FactSet said would represent the weakest expansion since the fourth quarter of 2020 – down from the 5.9% expected at the start of the quarter. Unsurprisingly, Consumer Discretionary saw the biggest downgrade of any major sector, along with Amazon and Target. Alphabet, Meta, and Disney were among the notable drags in 'communication services, the sector which saw the second-largest earnings downgrade in the second quarter. consumer discretionary saw the biggest downgrade of any major sector, along with Amazon and Target. Alphabet, Meta, and Disney were among the notable drags in 'communication services, the sector which saw the second-largest earnings downgrade in the second quarter. consumer discretionary saw the biggest downgrade of any major sector, along with Amazon and Target. Alphabet, Meta, and Disney were among the notable drags in 'communication services, the sector which saw the second-largest earnings downgrade in the second quarter.

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30 June, 2022 10:48

← Netflix remains by far the largest internet content provider in France

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Netflix remains by far the largest internet content provider in France

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