Philly Fed Future Nominal Orders vs. S&P 500 12-Months Forward EPS (Leading Indicator) A severe contraction in earnings growth should hurt U.S. stocks in 2023. Image: Nordea and Macrobond
S&P 500 Price Based on EPS and P/E Scenario According to Goldman Sachs, the S&P 500 Index could fall to 3150 in the event of a U.S. recession. Image: Goldman Sachs Global Investment Research
Earnings – S&P 500 LTM EPS Growth YoY Morgan Stanley’s leading earnings indicator does not bode well for EPS growth. Image: Morgan Stanley Research
S&P 500 Level and EPS Goldman Sachs forecast for S&P 500 EPS is $224 in 2023, and its S&P 500 price target is 4,000 by the end of 2023. Image: Goldman Sachs Global Investment Research
Earnings – Peak to Trough Decline in LTM S&P 500 EPS During Recessions In the event of a U.S. recession, Goldman Sachs predicts that S&P 500 earnings could fall by 11% in 2023. Image: Goldman Sachs Global Investment Research
Earnings – Global Manufacturing PMI New Orders vs. World Trailing 12-Month EPS (Leading Indicator) Global manufacturing PMI new orders tend to lead world EPS growth by 12 months. Image: BofA Global Research
Earnings – S&P 500 Consensus EPS Revision Consensus EPS revisions are moving sharply lower, which is not good news. Image: Goldman Sachs Global Investment Research
S&P 500 and Stocks Net EPS Revisions Macro headwinds suggest that the S&P 500 could fall further towards 3,200. Image: BCA Research
S&P 500 EPS Growth vs. ISM Manufacturing With a U.S. recession looming, a soft landing seems difficult to achieve. Image: Deutsche Bank Asset Allocation
S&P 500 EPS Growth vs. Buyback Growth Goldman Sachs expects buybacks to decline by 10% in 2023. Image: Goldman Sachs Global Investment Research