The Stocks rallied last week to new record highs as they marched lock step in the bull investors favor. Trading on blind optimism continued to fuel the risk-on behavior. The S&P 500 rose .99% last week to 25.30% YTD.
Welcome back from the holiday. Happy Monday. Good Luck out there this week.
Economic Calendar
Briefing.com has a good U.S. economic calendar for the week. Here are the main U.S. releases.
Briefing.com
Last Weeks Numbers
Review Last weeks numbers here. The SP 500 had a great Thanksgiving Day run up into Black Friday.
Earnings
Source I/B/E/S data from Refinitiv
Aggregate Estimates and Revisions
- Third quarter earnings are expected to decrease 0.4% from 18Q3. Excluding the energy sector, the earnings growth estimate is 2.2%.
- Of the 488 companies in the S&P 500 that have reported earnings to date for 19Q3, 75.2% have reported earnings above analyst expectations. This compares to a long-term average of 65% and prior four quarter average of 74%.
- 19Q3 revenue is expected to increase 3.8% from 18Q3. Excluding the energy sector, the growth estimate is 5.2%.
- 58.2% of companies have reported 19Q3 revenue above analyst expectations. This compares to a long-term average of 60% and an average over the past four quarters of 59%.
- For 19Q4, there have been 69 negative EPS preannouncements issued by S&P 500 corporations compared to 33 positive, which results in an N/P ratio of 2.1 for the S&P 500 Index.
- The forward four-quarter (19Q4 –20Q3) P/E ratio for the S&P 500 is 18.3.
- During the week of Dec. 2, ten S&P 500 companies are expected to report quarterly earnings.
