Excerpt from Yahoo Finance quoting DataTrek’s Nick Colas:
…. “Nick Colas at DataTrek also highlighted in an email Wednesday morning that earnings estimates for the third and fourth quarter could be too low if the economy recovers as quickly as is implied by the recent rally in stocks.
“Right now, FactSet’s Wall Street consensus for Q3 is -25% earnings comps and Q4 is slated to be -12%,” Colas said. “These are certainly low bars to climb over if economic growth does, in fact, accelerate markedly from here”….
Read the full article here on Yahoo Finance!