The earnings rebound may take time to revive the fortunes of the equity market

Earnings are set to return to growth The percentage of companies beating earnings estimates is in line with historical averages , and earnings are beating forecasts, in aggregate, by nearly 8%. We continue to expect S&P 500 EPS growth of 3-4% in the third quarter. Our 2023 and 2024 S&P 500 earnings per share estimates are $220 and $240 , respectively.

, especially against a backdrop of elevated valuations. Rising yields have caused a further deterioration in the equity risk premium – making stocks look less attractive relative to high quality fixed income. We still expect the improving outlook for earnings to boost stocks over the coming year, with our base case for the S&P 500 to reach 4,700 by the end of 2024.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pinterest soars on rising Gen Z engagement, ad-market reboundPinterest soars on rising Gen Z engagement, ad-market rebound
Source: Investingcom - 🏆 450. / 53 Read more »

CNBC Daily Open: Market bounce may not lastAfter a rough week amid accelerating inflation and disappointing earnings, stocks bounced to start the week. But the recovery may not last.
Source: CNBC - 🏆 12. / 72 Read more »

CNBC Daily Open: Market bounce may not lastAfter a rough week amid accelerating inflation and disappointing earnings, stocks bounced to start the week. But the recovery may not last.
Source: NBCDFW - 🏆 288. / 63 Read more »