Five sectors have higher growth rates today, compared to the end of the first quarter, due to upward revisions to earnings-per-share estimates, with energy stocks leading the charge. The energy sector has recorded the largest increase in earnings estimates since the start of the quarter to 142.5% from 115.1%.
Among the list of concerns, Stone is watching geopolitical headlines closely, such as the ongoing trade war developments, but does not believe they will get out of hand.
“Right now, we’re nowhere near any sort of recession whether you’re talking in the U.S. or globally on the whole,” Stone added.
For more information on the energy sector, visit our energy category.