Your 401(k) and retirement funds use quarterly reports for rebalancing and risk management—fewer updates could mean bigger market surprises and higher trading costs. Researchers argue that when Europe ditched quarterly reporting a decade ago, that didn't cure short-term thinking, but it did make analyst predictions less accurate. President Donald Trump has renewed his push to let public companies report only twice a year instead of filing every quarter. The move requires changes to SEC rules and would broadly align U.S. practice with the U.K. and European Union, where quarterly reporting has not been mandatory for years. Instead, firms that stopped quarterly reporting often lost analyst coverage and saw their stock forecasts become less accurate—suggesting the market lost valuable information touchpoints.