Read the full article on FactSet Insight.
Excerpt:
Second-quarter earnings season is now in full swing. There is much pessimism this go around—a far cry from re-opening optimism and the “roaring 20s” narrative that the bulls hoped for. The reality is that global stocks are decidedly in a bear market, and the macro economy appears to be on the brink of recession. Wall Street analysts have begun slashing GDP growth forecasts and S&P 500 earnings projections. Wall Street Horizon highlighted three key themes for the Q2 reporting season: rising interest rates, inflationary pressures, and growing recession risks. Here we focus on the outlook for key auto manufacturers.
Key Takeaways:
- Late July through early August is an important period for global car companies
- Second-quarter profit figures along with July interim sales and production data should unveil the state of the industry and consumer
- Lower commodity costs and retreating gas prices are reasons for optimism, but plenty of risks remain firmly in place
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