ide information on the economic development in the UK. Key date: 2 July, PMI manufacturing for June; 4 July, PMI services for June; Commodity prices Energy and Materials together are about 30% of the UK market by market capitalization. Developments in commodity prices affect earnings estimates. Policy action Loose mo

worst since Dec 2009. Mfg. IP ex Auto growth is weak. Analysts have cut 2015 S&P 500 EPS by 1.2% since June end, led by the 6.8% and 7.9% cuts in Energy and Materials earnings, on renewed worries of lower for longer oil and commodity prices. The consensus 2015 btm-up EPS is 6118.63, about $0.35 lower than our est

worst since Dec 2009. Mfg. IP ex Auto growth is weak. Analysts have cut 2015 S&P 500 EPS by 1.2% since June end, led by the 6.8% and 7.9% cuts in Energy and Materials earnings, on renewed worries of lower for longer oil and commodity prices. The consensus 2015 btm-up EPS is $118.63, about $0.35 lower than our est