2024-02-09 19:20:00 ET
Summary
- The forward 4-quarter estimate for the S&P 500 rose actually increased this week to $242.77 from $241.97, probably a lot due to Amazon, Meta and Apple reporting the night of February 1.
- The P/E on the FFQE is 20.7x this week versus 20.5x last week.
- The S&P 500 earnings yield has fallen all 6 weeks of 2024, starting with 5.19% on 1/5/24, while ending this week at 4.83%.
It’s been an interesting ride for Q4 ’23 S&P 500 earnings:
After Q3 ’23’s +5% GDP growth rate, estimate revisions were higher for the most part, until early November ’23 when Treasuries started to rally and some of the economic data started to moderate....
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For further details see:
S&P 500 Earnings: Another Round Of EPS Bumps After Mega-Cap Tech Earnings