Citi: Q1 earnings support bullish view toward S&P 500 fundamentals

Citi strategists said the Q1 reporting season can be described as a "beat-and-hold," noting that 2024 consensus growth expectations for theMeanwhile, the relationship between sector earnings and stock performance has been so far mixed during this reporting period, they added.

“All told, valuations are still telling us strong fundamentals are expected, and need to be delivered on,” they said, adding that their 2024 S&P 500 earnings per share estimate of $245 “should be attainable, if not conservative.” In terms of broadening, Mega-cap stocks remain crucial to index growth, though this influence should lessen as the year progresses, particularly if economic data indicates continued recovery in manufacturing. The "other 493,” on the other hand, are just beginning to show growth for 2024, implying stabilization now and growth later, strategists highlighted.

“Market-implied growth expectations, the annualized 5-year FCF growth rate needed to justify current index levels, have fallen thus far into the quarter as the index has pulled back while fundamentals improve,” strategists wrote.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Citi: Q1 earnings support bullish view toward S&P 500 fundamentalsCiti: Q1 earnings support bullish view toward S&P 500 fundamentals
Källa: Investingcom - 🏆 450. / 53 Läs mer »

Stock Market Today: S&P 500 closes lower as Powell signals higher for longer ratesStock Market Today: S&P 500 closes lower as Powell signals higher for longer rates
Källa: Investingcom - 🏆 450. / 53 Läs mer »