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RWUI - Has The Negative EPS Cycle Turned A Corner?
Direxion FTSE Russell US Over International ETF Direxion Shares ETF Trust
By Philip Lawlor, head of Global Markets Research
Investors have decisively turned their sights to 2021 recovery prospects, even as consensus 2020 EPS forecasts have continued their steep downhill slide. Signs that the negative revision cycle may be slowing offer a positive note.
As the table below shows, the swing in consensus 2020 EPS forecasts to negative growth has been most severe for the Russell 2000, FTSE Europe ex UK and FTSE UK, while emerging markets are seen posting much smaller gains than previously projected. At the same time, however, expectations for a robust global