While it’s not uncommon for companies to lower the estimates for the next quarter around the earnings season, this quarter the magnitude of down revisions is way higher than normal. Another reason why this is a BMR, rather than a new bull market.
Charts from @MrBlonde_macro pic.twitter.com/3BX7AZsdVU
— Matteo Marinelli (@MrnllMtt) November 1, 2022
May be, there was always a sort of game between Wall Street and the reporting companies. However, looking at the economic data from both the US and the rest of the world, I don’t think that’s the case. Rather, the disaster everyone was expecting was moved on by a quarter.
— Matteo Marinelli (@MrnllMtt) November 1, 2022
POWELL: WINDOW FOR SOFT LANDING HAS NARROWED
— *Walter Bloomberg (@DeItaone) November 2, 2022
Fed Powell: The Window Has Narrowed “Because We Haven’t Seen Inflation Coming Down
The window has narrowed “because we haven’t seen inflation coming down,” Fed Chair Powell says. “We need to have policy be more restrictive.”
FED’S POWELL: NOBODY KNOWS WHETHER OR NOT A RECESSION WILL OCCUR, OR HOW SEVERE IT WILL BE.
— Breaking Market News ⚡️ (@financialjuice) November 2, 2022
POWELL: IT IS PREMATURE TO THINK ABOUT PAUSE
— *Walter Bloomberg (@DeItaone) November 2, 2022
Shipping giant expects global container demand to decline 2% to 4% this year and says container market may also shrink in 2023; “Global trade is moving backwards this year”
