Originally published February 16, 2019
This chart got a lot of play on Twitter on Friday and Saturday morning, and it tells, but also stimulates, a more important question (maybe): Just how far out does the S&P 500 (the index) discount earnings data?
Here is the "4-week change" in the 2019 S&P 500 EPS estimate for the last six weeks:
- 2/15/19: -1.47%
- 2/8/19: -1.73%
- 2/1/19: -2.32%
- 1/25/19: -1.85%
- 1/18/19: -1.87%
- 1/11/19: -2.03%
The 12-week change and the y/y change are still deteriorating or becoming more negative.
S&P 500 Weekly Earnings Data:
- Fwd 4-qtr est: $168.65