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With US Federal Reserve looking to hike rates, investors and companies have postponed their investments unsure of what a first rate hike might bring.
So it is likely that US earnings might suffer in the second quarter which brings S&P500, Dow jones and NASDAQ at risk of decline after earnings release. Strong US dollar has made imports cheaper than domestic products.
- The above chart shows, analysts' expectation of earnings in the second quarter.
- Analysts are expecting earnings to be down by -4.6% in the fourth quarter. This is the worst forecast since 2009. At end of March, Analysts were expecting decline of just -2.3%.
- Latest decline in earnings growth is being contributed by consumer discretionary (down to 4.2% from 9%), utilities (down to 2.2% from 5.3%), Information technology (down to 1.1% from 4.3%), materials (down to 0% from 4%), industrials (down to -3.2% from 4.2%) and consumer staples (down to -3.6% from -1%).
- Energy sector earnings are expected to decline the most by -61% and healthcare earnings are expected to be highest at 7.7%.
