MARKETS
Wall Street lowered its consensus bottom-up EPS estimate by 2.5% from June 30 to July 28. During the past five years – or 20 quarters – the average decline in the bottom-up EPS estimate during the first month of a quarter has been 1.3%.
As economic data continues to shows signs of slowing
Analysts are making downward revisions to earnings per share estimates for S&P 500 companies for the third quarter. This in turn is giving investors more realistic guidance and strengthening the market.
