Let's see how myopic I am versus you. I bet you and most investors didn't know that on 3/31/2015 Wall Street's estimated for 2016 operating earnings was $135.03. The market peaked shortly thereafter at 2,134. On 3/31/2016 Wall Street's estimate for 2016 operating earnings was marked down to $118.12, and has since been revised further to $114.73. The current quarter is tracking at $24.14, so to reach Wall Street's number of $114.73 companies will have to report record quarters of $30.19 each for the remainder of the year. The highest quarter for operating earnings was 9/30/2014 at $29.60.
Now agip may believe in a turn around in earnings, but there is nothing in the data that says that is the case. The weaker dollar theory will be trumped by any Fed rate move. If you haven't noticed several retailers are struggling and the same can be said of global financial institutions. So it is more that just commodities and energy.
Hey, but believe what you wish, but the facts are totally different than what you believe to be true.