With 92% of the companies in the S&P 500 reporting, the blended earnings decline for the index for Q3 is -2.3%: Factset. Meanwhile, Q4 EPS is now also projected to be negative, as the S&P is now knee-deep in an earnings recession
S&P is up 8% since start of Oct rally, a powerful move that in the past has typically been part of V-shaped recovery. The inexorable logic of late-stage bull mkt means future returns will be lower than in past, even if a recession can be avoided for now.
This strategist absolutely nailed his pullback call for the S&P 500 in June. Here's what he sees now...
Just completed our Rolling 24-week correlation study for the S&P 500 vs 39 global futures markets. Correlation is not stagnant its ever evolving. Best make sure the markets are doing what you think they are ... because chances are they have changed
BREAKING: US stocks suffer worst year since 2008 financial crisis; S&P 500 sees 6.2 percent annual drop, Dow falls 5.6 percent.