Median S&P 500 EPS Growth

Median S&P 500 EPS Growth The median U.S. company is expected to grow earnings per share by 3% in the third quarter of 2019. That’s pretty good news. Picture source: Goldman Sachs Global Investment Research

S&P 500 EPS and South Korea Exports

S&P 500 EPS and South Korea Exports Chart showing the quite good correlation between S&P 500 EPS and South Korea exports, and suggesting this does not bode well for S&P 500 EPS. Picture source: Nordea and Macrobond

S&P 500 EPS vs. U.S. Nonfinancial Corporate Profits

S&P 500 EPS vs. U.S. Nonfinancial Corporate Profits Creative accounting is imaginative ways to present accounts. The divergences between earnings and U.S. nonfinancial corporate profits occur before recessions. Picture source: Gavekal, Macrobond

South Korean Exports vs. S&P 500 EPS Estimates

South Korean Exports vs. S&P 500 EPS Estimates The correlation between South Korean exports and S&P 500 EPS estimates suggests a weakness in S&P 500 earnings estimates. Picture source: Lohman Econometrics

World Semiconductor Sales and S&P 500 EPS

World Semiconductor Sales and S&P 500 EPS Tight relationship between world semiconductor sales and S&P 500 earnings per share. You may also like “Semiconductor Sales vs. Global Earnings per Share.” Picture source: Oxford Economics

S&P 500 Tax Adjusted EPS vs. Trend

S&P 500 Tax Adjusted EPS vs. Trend Interesting chart showing that S&P 500 tax adjusted earnings are above trend. Picture source: J.P. Morgan Asset Management

S&P 500 vs. 12-Month Forward EPS Estimate

S&P 500 vs. 12-Month Forward EPS Estimate Chart suggesting that the 52-week rate-of-change in forward EPS could turn negative. Picture source: Lohman Econometrics

10Y-3M Yield Curve Inversion and S&P 500 Operating EPS

10Y-3M Yield Curve Inversion and S&P 500 Operating EPS The inversion of the yield curve between 3-month and 10-year Treasurys is not good news for S&P 500 operating EPS  (90D means 3-month T-bill). The 50 day moving average removes false signals since 1967. Picture source: Stifel

S&P 500 Forward EPS and World Trade Growth

S&P 500 Forward EPS and World Trade Growth The chart shows a pretty good correlation between the S&P 500 forward 12-month EPS and the CPB World Trade Index. Picture source: Oxford Economics, Macrobond