Excerpt from Bloomberg’s latest piece quoting DataTrek Research:
….. “Third quarter earnings season should wrest control of the market narrative away from interest rates and place it back on corporate fundamentals,” said Nicholas Colas, the co-founder of DataTrek Research. “The results will be good, but not as positive as earlier in the year. Thankfully, everyone knows that. We will be watching revenue growth and how analysts tweak their numbers for 2019.”
Equity swings around earnings have picked up this year. First-day reactions in individual stocks to financial results were more pronounced last quarter than any time in two years, according to data compiled by Goldman Sachs. While the firm’s strategists attributed the tremor to bad forecasts that resulted from conflicting economic forces and policies, another factor may also have been at play: too much consensus”…..
Read the whole article here on Bloomberg!