 | Horacio Coutino, multi-asset strategist |
“I don’t care if you call it a recession or not, in this industry that’s a recession”
— Southwest Airlines CEO Robert Jordan during Q1 earnings call, on 24th April.
President Trump's second term has seen an unexpected depreciation of the US dollar, defying the often-anticipated correlation with rising US interest rates. Investors sold the dollar throughout April due to unprecedented trade war uncertainty.
April witnessed a poor performance across global equity markets, with US indices generally underperforming their mean monthly performance. Six of the eleven S&P 500 sectors experienced negative returns. This contrasts with the Stoxx Europe 600, which also saw negative performance in most sectors but demonstrated resilience in its equal-weighted version, hinting at a more evenly distributed performance across European companies.
This report will analyze:
- S&P 500 earnings expectations for Q1.
- Sectoral earnings growth rates.
- The S&P 500 sectors’ net profit margins.
- Sector-specific monthly performance for US and European equities.
Este artículo se presenta a modo informativo únicamente y no debe ser considerado una oferta ni solicitud de oferta para comprar ni vender inversión alguna ni los servicios relaciones a los que se pueda haber hecho referencia aquí.
