Global concerns may shrink Wall Street’s third~quarter estimates
~!!~**Analysts will likely be pulling in their reins going into the quarterly reports and the pre~announcement season// This could happen fairly quickly,** said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York//
~!!~The dollar index //DXY, measuring the greenback against a basket of major currencies, has risen 0//8 percent so far this quarter after falling 2//9 percent last quarter// Ghriskey sees the currency*s strength hurting the competitiveness of U//S// exports against local products overseas and imports here, resulting in shrinking revenue and earnings for U//S// multinationals//
~!!~In addition, demand is likely slower in many overseas markets with slowing growth in China and recessions in Brazil and Russia hurting both revenue and earnings//