We see an interesting trend in the American market — eight out of eleven S&P 500 sectors have lowered their earnings forecasts for the first quarter of 2026. This has happened over the past two months, and the trend is quite noticeable.

Healthcare and energy are leading this downward revision. It seems both sectors are facing serious challenges in the current economic conditions. We observe how specific issues within each sector are beginning to impact financial results.

This could be a sign of broader market difficulties or simply an overestimation of analyst expectations. In any case, when most sectors are simultaneously lowering forecasts, it usually indicates that investors are becoming more cautious about their profitability expectations.