No need to panic as turbulent earnings season looms
STOXX 600 up 0.3%
Defensives lead, banks dip
China jitters persist
Wall St futures edge lower
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
NO NEED TO PANIC AS TURBULENT EARNINGS SEASON LOOMS
Barclays says the earnings season is shaping up as a tricky one for investors, but advises them "to stay the course" ahead of a possible cyclical rally in the final part of the year.
The UK bank's strategists, led by Emmanuel Cau, are warning of potential turbulence ahead, driven by a likely cut to 2025 forecasts, which they believe are still too rosy.
The outlook for the third quarter is far from sunny, with pre-announcements taking a more negative tone than usual and economic surprises pointing to a soft earnings delivery.
"High FY25 estimates may bring more clearing events," they caution, suggesting that more downgrades may be on the way.
That however is no reason to panic. Despite the expected volatility, Barclays looks upbeat.
"Performance and valuation may cause dispersions over Q3, while investors may stay put ahead of the US election. But we don't think this will alter the overall direction of travel if a soft landing remains in prospect, which would mean more rotation to cyclicals as we get closer to 2025".
*****
EARLIER ON LIVE MARKETS:
STOXX INCHES UP, OFF 2-WEEK LOWS CLICK HERE
EUROPEAN FUTURES POINT TO MUTED START CLICK HERE
CHINA STOCKS GET A REALITY CHECK; EUROPE SHUDDERS CLICK HERE
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
