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S&P 500: Energy, Basic Materials Expected to Be 2024 Earnings Drags

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S&P 500 News

The Materials Select Sector SPDR® Fund,The Energy Select Sector SPDR® Fund

Stocks Analysis by Brian Gilmartin covering: S&P 500, The Materials Select Sector SPDR® Fund, The Energy Select Sector SPDR® Fund. Read Brian Gilmartin's latest article on Investing.com

are expected to be a drag for 2024, i.e. the expected sector growth is actually a full-year decline, and are the only sectors with expected negative declines in EPS growth in 2024.

If the energy sector is removed from the S&P 500 for Q3 ’24, the expected EPS growth jumps to +7.3%, versus the expected +4.9% today. According to this chart from Schwab’s Kathy Jones, the corporate investment-grade OAS is nearing it’s tightest levels in 20 years.

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