Some 29 information technology sector companies have lowered their guidance, which is the biggest number since FactSet starting tracking the data in 2006.
Electronic equipment instruments and components also has come down to an estimated 8.9% decline from 4.4% previously, according to FactSet.
Yoshikami said the prospects are likely to only get worse unless the Trump administration reaches a deal soon with China. "You could actually have a negative impact that won't show up for three or four months. That's why I think a deal is better sooner rather than later," he said. "I think you'll see the cloud lift" once a trade deal gets done.despite all the geopolitical turmoil.at its weakest rate since June 2009
, and comments from participants show a clear link to tariff concerns. Should corporate CEOs echo those concerns with poor guidance, that would provide a stern test for the market to advance from here. "US stocks have rallied sharply this year because investors expect that an eventual US-China trade deal combined with a more dovish Fed will lead to a noticeable bump in future earnings," Michael Arone, chief investment strategist at State Street Global Advisors, said in a recent report. "So, it follows that evolving changes in 2021 earnings expectations will likely determine what investors should expect from stock prices in 2020.
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