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1.Market Observations, 2.Economic forecasts, 8.Was Sticky

5 Oct 2018 (AFR) – Companies are furiously guiding down Wall Street’s estimates

(5 October 2018, AFR, p29, by Lu Wang)

‘On the bull market villains list, it’s public enemy No. 1: peak earnings. At what point does the profit bubble pop? Ever since Caterpillar mentioned a “high water mark” in growth, Wall Street has been on alert. To date, the worries have been unfounded. Earnings soared 24 per cent in the first quarter and did it again in the second. And while nothing is likely to prevent another blowout quarter in the third, one trend bears watching: the rate at which executives are guiding down forecasts.’

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