Earnings Season Kicks Off
April 2015 PCM Quant Coalescence
March equities began the month just a fraction off of their all-time highs and closed down 1.74% for the month. This was after experiencing their best month in over 3 years in February, as measured by the S&P 500. Earnings season officially began after the market close on April 8th with Alcoa reporting. Alcoa is a company that was anticipated to benefit from the stronger dollar, as market watchers try to determine the impact of lower oil and a higher U. S. dollar on overall earnings. The following statistics and estimates are courtesy of John Butters, VP and Sr. Earnings Analyst at Factset:
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What in the world is going on?
A brief review of 2014 financial markets and what it may mean for 2015:
With the exception of the US, India and China, the world's equity markets were down in 2014. Japan was down 7.4% and officially entered into a recession. The three largest European markets; the U.K., Germany, and France were down 13 plus percent and their economies are very close to following Japan into a recession.
The Goldman Sachs Commodity Index, led by Oil and Precious Metals fell 33%. This in turn led to significant losses in commodity export economies/stock markets such as Russia, down 49%, Brazil, down 18.2% and Australia, down .... Read More...
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