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ForennameÖsterreichische Aktien im In- und Ausland
Betreff des ThemasThe US reporting season has delivered strong earnings beats and surprises
URL des Themashttps://aktien-portal.at/forum/../forum/boerse-aktien.php?az=show_topic&forum=124&topic_id=203844&mesg_id=205132
205132, The US reporting season has delivered strong earnings beats and surprises
Eingetragen von Warren Buffett, 30.4.18 15:19
• The US reporting season has delivered strong earnings beats and surprises with 36% of S&P 500 companies having reported thus far. About 80% of S&P 500 companies are beating earnings estimates (vs. 72% prior four earnings seasons) and 68% are beating 1Q revenue estimates. Blended 1Q Revenue Growth (reported + estimate) is now 7.4% and Earnings Growth is 21.1% (vs. 17.6% last week) —in line with the team’s aggressive expectation of 4-5% for this. Consumer Discretionary (+1.4%) and Healthcare (+1.2%) companies are delivering the strongest post reporting 1-day outperformance while investors have been less impressed by Telecom (-0.9%) and Staples (-0.3%). The S&P 500 is up ~1% since the start of earnings season and further upside is expected as companies exit earnings season blackout period and could accelerate repurchases.

• Our Equity strategists are constructive on equities, and believe one should be adding at these levels. The fundamental supports revolve around still healthy earnings in both the US and in Europe, likely stabilisation in activity momentum as seen in a pickup in US CESI, and improved technical picture. Real rates remain outright negative, central banks accommodative, and it is too early to position for a policy mistake. At a sector level, the team continues to look for further upside in Cyclicals vs Defensives on the expectation of rising bond yields. Our strategists also prefer Eurozone to the US, as Euro headwind is turning, among other, and expect EM to continue consolidating vs DM.

JPMorgan
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