Broadening Earnings Optimism

(1) Analysts boost earnings growth estimates for wide array of industries. (2) Cyclicals get the nod, as do any industries relating to the home. (3) Upward revisions not as strong for industries selling the staples we hoarded earlier this year. (4) Money falls from the sky in Europe. (5) ECB ups bond buying to €1.35 billion. (6) Furloughs keep European workers off the unemployment rolls. (7) EU countries show unified front with plans to sell €750 billion of bonds. (8) Eurozone July economic data have green shoots. (9) For the grass to grow, COVID-19 needs to stay at bay.