Third quarter S&P 500 earnings estimates are being revised lower, with significant negative revisions being reported in materials, energy and industrial sectors.
Continued sub-par economic growth from China, lower potential orders from the cyclical mining and energy sectors and reduced forecast demand for heavy machinery by the agriculture sectors are likely to produce a significant headwind for the coming S&P 500 earnings aggregates.
http://www.factset.com/websitefiles/PDFs/earningsinsight/earningsinsight_9.4.15
The average value of the global commodity basket (S&P GSCI) declined in price by 14% in the month of July and a further 3.7% in the month of August. For the quarter, the global commodity index declined by a whopping 18.8%.
With forecast future declines in world food prices, consumers should have even more discretionary income in the months ahead.
http://www.producer.com/daily/global-grain-supplies-to-hit-record-high-in-201516/
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