JPMorgan Expects S&P 500 Earnings to Blow Past Gloomy Estimates
- S&P 500 1Q consensus earnings estimates ‘overly pessimistic’
- Vast majority of S&P 500 members reporting have beaten so far
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JPMorgan Chase & Co. strategists expect Corporate America to easily trounce Wall Street’s earnings forecasts.
Consensus earnings estimates for the S&P 500 are “overly pessimistic” for the first quarter and companies in the index are poised to deliver a surprise of 4% to 5% on “better-than-feared margins,” according to a team of JPMorgan strategists led by Dubravko Lakos-Bujas and Marko Kolanovic.