The main stock indexes keep pushing higher and the selling volume is minimal. Similarly to March 2020 where the market pushed lower to seeking buyers now the market needs to push higher to find sellers.
Here you have find the historical data of selected instruments that I track
The Earning Data from US and Europe is not supporting such valuation, and I am conformable knowing that the market can reward such this behavior. Like it did to the bear in Q1 and now to the bulls in Q2 2020.
Earning in Euro Stoxx 600:
- First quarter earnings are expected to decrease 37.7% from Q1 2019. Excluding the Energy sector, earnings are expected to decrease 34.9%.
- First quarter revenue is expected to decrease 3.6% from Q1 2019. Excluding the Energy sector, revenues are expected to decrease 2.2%.
- 274 companies in the STOXX 600 have reported earnings to date for Q1 2020. Of these, 46.4% reported results exceeding analyst estimates.
- 310 companies in the STOXX 600 have reported revenue to date for Q1 2020. Of these, 64.5% reported revenue exceeding analyst estimates.
- During the week of June 15, two STOXX 600 companies are expected to report quarterly earnings.