美国企业营收预期逆势走高，华尔街为何仍焦虑不安？

Group 1 - Despite concerns over economic slowdown and high stock market valuations, companies are showing improved revenue forecasts, providing some comfort to investors [1] - 44% of S&P 500 companies that adjusted revenue expectations raised them, the highest percentage since 2021, while only 14% lowered expectations, the lowest since 2015 [1] - The optimism in corporate revenue outlook contrasts with signs of weakness in the labor market amid high inflation [1] Group 2 - The Federal Reserve is facing challenges with inflation above the 2% target and signs of weakness in employment data, yet corporate America shows little concern [4] - Morgan Stanley's analysis indicates that mentions of "order books" and "upward guidance" have reached recent highs following the global trade war [4] - Communication services, financials, consumer discretionary, and information technology sectors have seen upward revisions in earnings expectations for 2025 and 2026 [5] Group 3 - Stock buybacks are providing additional support to the market, with announced buyback sizes at a three-year high [5] - Goldman Sachs noted a disconnect between corporate commentary and macroeconomic conditions, with their internal economic activity indicator showing a 4.8% year-over-year increase, outpacing economic growth [5] - Despite optimistic corporate outlooks, high valuations may limit further stock market gains, as noted by market observers [5]