Over the past decade the S&P 500 has seen a total return of 252.2% (12/31/09 through 12/17/19), which translates to a compound annual total return rate of 13.5%. Over that time two new sectors were added to the index. The real estate sector was separated from the financials sector and the communication services sector was created by removing the telecommunications services sector and pulling constituents from the information technology and consumer discretionary sectors. The information technology sector posted the greatest compound annual total return of 17.3%. Within the sector, the software & services (17.8%) and semiconductors & semiconductor equipment (17.3%)

As the S&P 500’s 19Q1 earnings season enters the final stretch, Broadcom Inc (AVGO.OQ) delivered a heavy blow to the Semiconductors and Semiconductor Equipment industry when they reported revenue below expectations and provided a cautionary warning related to U.S. China trade and OEM inventory levels. Nearly all of the S&P 500 companies (496) have reported 19Q1 earnings and roughly three quarters (75.6%) have beat expectations. As a result, first quarter earnings are now expected to increase 1.6%. This is an improvement from the expected two percent decline and earnings recession that was expected at the beginning of the of earnings