Bloomberg: "Stock Market Confuses Optimism With Relief"

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Bloomberg: "Stock Market Confuses Optimism With Relief"

Excerpt from Bloomberg Opinion quoting DataTrek Research:

…. “Here’s another way to look at it, though: Earnings have exceeded analysts’ estimates by 3.8%, below the average of 5.2% over the last year and 4.9% the last five years, according to DataTrek Research. And that the so-called beat rate is down even though revenue growth is beating estimates, a sign profit margins are getting squeezed. As a result, analysts are cutting their fourth-quarter forecasts, taking them down by 2.8% during the month of October, which DataTrek points out is steeper than the typical reduction of 1.7% over the last five years”….

Read the full article here in Bloomberg Opinion!