The dollar staying here becomes a tailwind for forward quarters, says Deutsche Bank's Bankim Chadha

Tariffs and Trade - Uncertainty surrounding tariffs is hindering mergers and acquisitions [1] - The impact of tariffs on the S&P 500 earnings is estimated to be around 17% [6] - The market is waiting to see the actual impact of tariffs on earnings this earning season [3] - A tariff level around 20% is considered a threshold where adjustment time increases [3] Macroeconomic Factors - The underlying economy is showing signs of being "okay to good" based on US GDP growth forecasts [4] - A sharp decline in the dollar could become a tailwind for future quarters [5] Analyst Estimates and Market Expectations - Analyst estimate dispersion is wide, potentially leading to more conservative estimates [7] - Wider analyst dispersion tends to lead to bigger beats for the S&P 500 as a whole [7]