The reality of persistently higher long-term interest rates continues to weigh on the stock market. The major averages slunk further from their recent highs this past week, led by the so-called Magnificent Seven.
Putting numbers to those impressions, Peta says investors came into the year expecting earnings for S&P 500 companies at about $190-$195 per share. Instead, actual results are beating those forecasts by about 11%, with consensus full-year estimates for 2023 being marked up to about $219. Read More Up and Down Wall Street Peta sees those forecasts falling short. Just as it was difficult to disappoint the downbeat expectations of the first half of this year, it will be hard to surprise on the upside for 2024. His top-down forecast “conservatively” calls for a drop of about 5% next year to about $210 in S&P 500 per share earnings.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street rises in early trading, though bond yields remain highStocks are opening slightly higher on Wall Street following some encouraging profit reports from big companies.
Source: ksatnews - 🏆 442. / 53 Read more »
Dow ends almost 300 points lower, stocks fall for third straight day as bond yields jumpU.S. stocks closed lower on Thursday, with the selloff in equities gathered steam in late-day trade, as government bond yields touched their highest level in...
Source: MarketWatch - 🏆 3. / 97 Read more »
Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S.
Source: AP - 🏆 728. / 51 Read more »
Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Seoul, and were little changed in Sydney.
Source: ksatnews - 🏆 442. / 53 Read more »
Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Seoul, and were little changed in Sydney.
Source: wjxt4 - 🏆 246. / 63 Read more »