Daily Three: Equity Earnings, Negative Rates and Iraqi Oil
- First quarter aggregate earnings are estimated to have declined for S&P 500 companies, according to Capital IQ estimates. Should there be a decline, it would be the third consecutive quarter. S&P Global Market Intelligence
- The International Monetary Fund (IMF) has included in a report that it supports negative rates by central banks, stating negative rates “deliver additional monetary stimulus and easier financial conditions, which support demand and price stability.” Reuters
- The Organization of Petroleum Exporting Countries (OPEC) is set to meet later this month to discuss a possible freeze on the levels of output for crude oil production. Meanwhile Iraq has increased its output to record levels. Bloomberg