Even with everything that the pandemic had to throw at the economy, the four-year electoral equity cycle, whereby the fourth year of the presidential term delivers the highest returns while the mid-term year is usually the ‘sweet spot’ in terms of cheapness, seems inescapable. Markets have a lot to digest in 2024, with the potential ramifications of an uncertain presidential race topping the list. Labour markets are also nearing peak conditions, with some indicators suggesting a slowdown in hiring. However, the US equity market has been exhibiting impressive second semester momentum so far. Despite some signs of slowing economic growth,

The S&P 500 rose to a record high this week, aided by strong performance by large tech-heavy multinationals. The benchmark US index has been aided by stellar performance among the ‘Magnificent Seven’,[1] as well as by a general increase in the price level. Once adjusting for inflation the S&P 500 is well above its end-2019 level, albeit still off its previous highs. However, the Russell 2000, which is made up of 2000 small-cap stocks, has floundered. Once the increase in the price level is accounted for, that index remains stuck at 2019 levels. Refresh this chart in your browser | Edit the

Over 90% of constituents have reported 22Q3 results and remarkably, the earnings growth rate has remained relatively unchanged since the start of earnings season.  This is considering the many worries around higher inflation, interest rates, potential margin degradation and recession forecasting. From the latest S&P 500 Earnings Scorecard, 460 constituents have reported earnings as of Sept 11th, of which 70.7% have reported results above analyst expectations, well-below the prior four-quarter average of 78.1% and above the long-term average of 66.2%. Industrials (79.1%), Information Technology (79.0%), and Energy (78.3%) have the highest earnings beat rate while Real Estate (58.1%), Communication Services

Click here to view the full report. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv. S&P 500 Aggregate Estimates and Revisions The 22Q3 Y/Y blended earnings growth estimate is 2.8%. If the energy sector is excluded, the growth rate for the index is -3.9%. Of the 45 companies in the S&P 500 that have reported earnings to date for 22Q3 68.9% reported above analyst expectations. This compares to a long-term average of 66%. The 22Q3 Y/Y blended revenue growth estimate is 9.7%. If the energy sector is excluded, the growth rate for the index is

To download the full Weekly Aggregates report click here. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv The Weekly Aggregates report provides updates on aggregate earnings revisions, growth rates and valuations. The numbers in the “Global Datapoints”, “U.S. Datapoints” and “Ancillary Data” sections are updated weekly. This report combines I/B/E/S’s unrivaled historical earnings database, in depth coverage of Wall Street analysts’ bottom-up corporate earnings estimates, and the analytic capabilities of the Proprietary Research group and desk-top solutions.

To download the full This Week in Earnings report click here. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv Aggregate Estimates and Revisions 22Q3 Y/Y earnings are expected to be 4.1%. Excluding the energy sector, the Y/Y earnings estimate is -2.6%. Of the 20 companies in the S&P 500 that have reported earnings to date for 22Q3, 65.0% have reported earnings above analyst estimates. This compares to a long-term average of 66.2% and prior four quarter average of 78.1%. During the week of Oct. 10, 14 S&P 500 companies are expected to report quarterly earnings. Refinitiv offers

Click here to view the full report. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv. S&P 500 Aggregate Estimates and Revisions The 22Q3 Y/Y blended earnings growth estimate is 4.1%. If the energy sector is excluded, the growth rate for the index is -2.6%. Of the 20 companies in the S&P 500 that have reported earnings to date for 22Q3 65.0% reported above analyst expectations. This compares to a long-term average of 66%. The 22Q3 Y/Y blended revenue growth estimate is 9.7%. If the energy sector is excluded, the growth rate for the index is

Earnings season kicks off next week and will provide further insight to a myriad of questions – will companies continue to report beats and surprises to the upside? Can companies continue to maintain record-high margins? Will forward earnings estimates start to reflect the economic reality of higher interest rates and a potential recession? 22Q3 earnings are forecasted at $465.32 billion (+4.5% y/y, -1.7% q/q) while revenue is forecasted at $3,644.1 billion (+9.7% y/y, -0.5% q/q).  While year-over-year growths remain in positive territory, analysts have downgraded both earnings and revenue growth expectations heading into earnings season. Earnings growth has come down

To download the full Weekly Aggregates report click here. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv The Weekly Aggregates report provides updates on aggregate earnings revisions, growth rates and valuations. The numbers in the “Global Datapoints”, “U.S. Datapoints” and “Ancillary Data” sections are updated weekly. This report combines I/B/E/S’s unrivaled historical earnings database, in depth coverage of Wall Street analysts’ bottom-up corporate earnings estimates, and the analytic capabilities of the Proprietary Research group and desk-top solutions.

To download the full This Week in Earnings report click here. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv Aggregate Estimates and Revisions 22Q2 Y/Y earnings are expected to be 8.4%. Excluding the energy sector, the Y/Y earnings estimate is -2.1%. Of the 498 companies in the S&P 500 that have reported earnings to date for 22Q2, 77.7% have reported earnings above analyst estimates. This compares to a long-term average of 66.1% and prior four quarter average of 80.6%. During the week of Oct. 3, four S&P 500 companies are expected to report quarterly earnings. Refinitiv offers

Click here to view the full report. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv. S&P 500 Aggregate Estimates and Revisions The 22Q2 Y/Y blended earnings growth estimate is 8.4%. If the energy sector is excluded, the growth rate for the index is -2.1%. Of the 498 companies in the S&P 500 that have reported earnings to date for 22Q2 77.7% reported above analyst expectations. This compares to a long-term average of 66%. The 22Q2 Y/Y blended revenue growth estimate is 13.6%. If the energy sector is excluded, the growth rate for the index is

To download the full This Week in Earnings report click here. Please note: if you use our earnings data, please source I/B/E/S data from Refinitiv Aggregate Estimates and Revisions 22Q2 Y/Y earnings are expected to be 8.4%. Excluding the energy sector, the Y/Y earnings estimate is -2.1%. Of the 498 companies in the S&P 500 that have reported earnings to date for 22Q2, 77.7% have reported earnings above analyst estimates. This compares to a long-term average of 66.1% and prior four quarter average of 80.6%. During the week of Sep. 26, five S&P 500 companies are expected to report quarterly earnings. Refinitiv