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Market Update: 07-20-20

AN EARNINGS SEASON TO FORGET

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

This earnings season may be one to forget. We will see one of the biggest year-over-year quarterly declines in S&P 500 Index profits ever, and we will hear a lot about uncertainty facing corporate America as COVID19 continues to impact many companies in the United States and globally. But it may not all be negative.

ESTIMATES MAY BE TOO LOW

The unprecedented nature of the COVID-19 lockdowns and widespread withdrawal of corporate guidance has set up an unpredictable earnings season. The magnitude of the decline we are likely to see may make this an earnings season to forget.

Download the complete PDF with graphs here.

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