First, let's get to the S&P 500 Earnings metrics missed this weekend:
- Fwd 4-qtr est: $171.52 vs. $171.47
- PE ratio: 16.7x
- PEG ratio: 3.63x
- S&P 500 earnings yld: 5.97% vs. last week's 6.23%
- Y/y growth of Fwd est: +4.7% vs. last week's +4.66%
(Source: earnings data from IBES by Refinitiv, the calculations are my own)
There have been only two weeks this quarter where the "forward 4-quarter estimate" increased sequentially, the first week was April 26th when the estimate jumped $0.26 and then this week, where the forward 4-quarter estimate improved $0.05 (yes, a whopping