Industry bellwethers report this week and for many, results will be bad \u000D\u000A
Industry bellwethers such as Canadian Pacific Railway Ltd., Suncor Energy Inc., Rogers Communications Inc. and Teck Resources Ltd. report second-quarter earnings this week. For many firms, results will be bad. The important question is how robust are the signs of recovery.
In the U.S., almost 10 per cent of companies in the S&P 500 have reported results and so far, a majority of them beat analyst expectations on sales and profit, according to data compiled by Bloomberg. Precious metals miners are a bright spot in a seemingly grim period. The flight to havens has boosted the price of gold. “I think that’s a sector that really could benefit from much better than expected earnings — and investors start to shift their portfolios accordingly and go, ‘Hey, over a longer-term basis, we need to actually be in the sector,'” said Brooke Thackray, an analyst at Horizons ETFs Management Inc.
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