Analytical company FactSet conducted a survey before the start of the corporate earnings season. Survey participants expect a decline in profits of the largest US companies from the Standard & Poor’s 500 index by 3% in annual terms, which will be the largest decline since the second quarter of 2016. So disappointing expert estimates are attributed to the negative impact on global GDP of the ongoing trade conflict between the United States and China. Reports published earlier by about 80 companies included in the calculation of the S & amp; P 500 index indicated an expected deterioration in quarterly earnings figures. The hope is inspired by the fact that in the first quarter the pessimistic estimation by experts of the companies' profits did not come true. Its rate fell by only 0.3% instead of the projected fall of 4%. In the same way, the forecast for the second quarter may not come true, as 20 of the 24 companies have already reported growth above market estimates.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...