While the US has a decent shot at finishing the earnings season flat to slightly positive and avoiding an “earnings recession” as results have improved in recent weeks, the same is not true for Europe.
That said we did get some improvement this week. European Stoxx 600 Q1 result estimates have improved from -4.2% to -3% in the past week. Revenues had a nice jump from +.7% to +2.6% year on year. This is less impressive because the EURO has been weak (~10% lower than it was yoy – Q1 2018).
