tracking the
Global impact of covid-19
2.4
M
Initial unemployment claims totaled 2.4 million last week. Over the last nine weeks, 38.6 million Americans have lost their jobs.
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According to FactSet Economic Estimates, the U.S. is expected to experience CPI inflation of 1.0% in 2020, while the Eurozone sees 0.5% inflation and China sees price growth of 3.0%.
united states Unemployment Claims
Lower CPI inflation due to slower economic growth
ChinA (Y/Y)
68%
U.S.
gdp
EU Leaders Debate Corona Bonds
The joint issuance of Eurobonds based on a combined EU credit rating is needed more than ever for the struggling countries in southern Europe facing spiraling debt and contracting economies.
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Companies Withdraw 2020 EPS Guidance
Through May 21, 172 companies in the S&P 500 stated during Q1 conference calls that they were withdrawing or had already withdrawn previous EPS guidance for FY 2020.
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Impact on global equity markets
According to FactSet’s Market Indices, U.S. equities are down 8.9% year-to-date, while European equities are down 20.9% and Chinese companies have fallen 2.3%.
FactSet Data
Consumers Shift Spending Away from Clothing, Furniture, and Travel
Economic data shows sharp contractions at clothing and furniture retailers, while a record low number of Americans plan to vacation in the next six months.
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-20.9%
Europe
equities
-8.9%
United states
equities
-2.3%
China
equities
Futures continue to trade below $2/mmbtu
Despite lower production in response to reduced industrial and electrical demand, inventories remain elevated,
suppressing futures prices.
The latest EIA weekly
data shows storage
up 42.8% y/y.
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Natural Gas Prices Remain Subdued
U.s. unemployed claims
weekly update | 5.26.2020
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Q2 S&P 500 EPS estimates
The Q2 bottom-up estimate for the S&P has decreased by 35.3% since March 31
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20%
30%
40%
50%
60%
68%
50%
40%
30%
28.3%
3.0%
(y/y) March
1.0%
0.5%
35.3%
(y/y) March
(y/y) March
