After a mixed Start to the US company back on the path to success found. 70 percent of the S&P 500 companies have so far submitted their balance sheets for the fourth quarter. After to forecast the beginning of the reporting season for the U.S. leading index, a decline in profit in the year-on-year comparison was, expect the analysts because of the positive Surprises now, an increase of two percent. That the income estimates of the negative revisions have a rest in the run-up to the reporting season, and profit the course takes the Form of a fishing hook, is typical. Usually, the growth forecasts of the analysts are three to four percentage points too low. Seven of the ten sectors of the S&P 500 show earnings growth.

catering (+33 percent) and technology (+11 percent) to lead the field. The last places are occupied by energy (-47 per cent) and basic materials (-31 percent). Fears of a profit recession is likely to be the absence of it. For the current year, the analysts expect an increase in profits, eight per cent – which is likely to be reflected in rising prices low.

economic recovery of China, would support commodity-exporting emerging countries

The Chinese government is considering to postpone the annual people's Congress due to the corona epidemic. Actually, this was on the 5. March terminated. The direction of the economic policy of President Xi Jinping, however, last week, announced. He reiterated that this year's economic goals, in spite of the virus outbreak is recorded. To support the economy, monetary policy has been loosened already, I reckon, moreover, with other economy-stimulating measures. A cyclical recovery in the commodity would be exported to benefit the emerging countries. China accounts for more than 60 percent of global iron ore consumption and more than 50 percent of the coal demand.

raw materials saw last week, the best price development this year, of which the share of emerging countries were able to benefit. This course losses as a result of the corona outbreak, in contrast to equities from the industrialized Nations, not yet fully caught up. This could change in an economic recovery in China, however, for investors with the appropriate risk appetite is a buying opportunity is therefore still.

China's Central Bank monetary policy

fans Since its interim low in early February, the Chinese Index CSI 300 to more than 13 percent. Alone yesterday, he was up 2.3 percent after the People's Bank of China had lowered the interest rate on the medium-term lending facility for commercial banks (MLF) of 3.25 to 3.15 percent. This should not, in particular, lending to strong from Coronavirus-affected businesses, but it's the only Front, on the China against the epidemic of mobile power. Latest we hear that the government wants to stimulate consumption, including through tax cuts and incentives to boost the development of 5G technology, as well as by subsidies and a loosening of the restrictions on car purchases. IT,Telecom and Industrials were the spearhead of the recent recovery. I reckon in addition, with further monetary and fiscal policy stimuli, and therefore consider the General market CSI 300, a profit increase of around ten per cent this year.

PR-Disaster for the cruise industry by Coronavirus

By the Coronavirus, the cruise industry is facing a PR Disaster. Not only are the cruise ships of the "World Dream" and "Diamond Princess" were placed under quarantine. The ship "Westerdam" was self-created without virus cases in several ports prohibited.

First Cambodia ended the misery. It could prove particularly painful for the cruise lines that these situations occurred in the Asian region. In the for the sector is still young, but strong growth, the market has doubled the number of cruise ships in the past six years, to 80. The passenger capacity was characterized in 2019, four million people – one eighth of all global cruise passengers. Some shipping companies were already forced to cancel trips in Southeast Asia. Despite the workload, I expect, however, could recover the shares of the companies concerned again soon.

Because so far travel destinations outside Asia remain of the difficulties, spared. And even in Asia itself, the bookings are expected to increase again as soon as the Coronavirus, has been brought under control.

the number of the day: 2.000.000.000

Since we know that there are outside of our solar system, many planets, the search for extraterrestrial life a new impetus. Astronomers of the Initiative "Breakthrough" lists have now provided the measurement data of radio telescopes online together with approximately two billion megabytes. Other researchers and private individuals can help to find signals of alien civilizations. In the case of a few Hundred billion stars in our milky way, it could take until the first "Hello" is heard.

I wish you a very contact joyful day.

Sincerely,

Ulrich Stephan

chief investment strategist for Private and corporate customers

With the stock recommendations of the Bernecker exchange-compass, you can get more out of your money! (Partner activity) 30 days free to try! In the FOCUS Online In the

hyo Date Of Update: 18 February 2020, 10:00