Earnings Watch: Springtime has arrived for earnings
Head of Equity Strategy
Summary: Equities have steamed higher in the past few months, powered by dovish monetary policy, trade deal optimism and improving Asian macro figures. But could earnings estimates
downgrades indicate that the train is now slowing down?
The table below shows next week’s releases from the 30 largest companies among the 2,000 companies we track during the earnings season. As usual the focus will be on Friday’s earnings among US banks such as JPMorgan Chase and Wells Fargo. With the recent US yield curve inversion investors would like strong outlooks from management to offset negative earnings expectations based on yield curve inversion.
Perhaps next week’s most interesting earnings release might come from an obscure corner of the global equity market. The Swedish investment company Industrivärden reports Q1 earnings on Tuesday. The company has holdings in many of Sweden’s largest publicly listed industrials and as such has a good feeling about the outlook for manufacturing. Sweden is one of the more cyclical economies in Europe and Industrivärden’s portfolio companies have broad international exposure. It might be worth listening to what the Swedes see in the manufacturing part of the economy.
Quarterly Outlook Q1 2022
Quarterly Outlook Q1 2022: Fuelling the Energy Crisis
- The green transformation is fuelling the energy crisis. Is it time to base our energy future on reality not fantasy?
Energy crisis could turn energy stocks into secular winnerWith long-term expected returns for the global energy sector close to 10%, we look at 40 stocks that could be set to cash in.
Commodities supported by greenflation and tight supplyThe commodity sector recorded its best year since 2000 in 2021. Will the good times will keep rolling in 2022? Ole Hansen thinks so.
The bond bear market will not spare anyoneInvestors will need to prepare for the pain of a bond bear market in 2022. But are there opportunities out there, too?
Mean reversion for big 2021 moves and lots of volatilityDon't expect the Japanese yen or Chinese renminbi to stay at their overstretched valuations for long. Get the FX Outlook now.
The future in energy-intensive proof-of-work looks dimIn the midst of a global energy crisis, electricity-guzzling Bitcoin and Ethereum are set to feel the heat from politicians and investors.
Australian equities poised to benefit from the energy crisisThere may be an energy crisis, but that's fuelling a charge in the ASX. FInd out which stocks could be burning hot this quarter.
The EU’s unwise energy policyThe EU's energy crisis is one of the main drivers of inflation. Is there any relief around the corner, or is the situation critical?