U.S. Stock Market – Earnings and Valuation The valuation is high relative to history, but not near historical extremes. The U.S. stock market should remain under pressure until Q3 earnings season. Picture source: Fidelity Investments
S&P 500 Earnings Estimates Analysts are projecting S&P 500 earnings in 2020 will rise nearly 11%, but a downward revision is possible, due to the global slowdown and impact from the trade war. Picture source: Fidelity Investments
World Technology Earnings vs. Global Market World technology earnings have surpassed those of the global market. Picture source: Goldman Sachs Global Investment Research
Earnings, Margins and Valuation Considering earnings growth, operating margin and valuation, the S&P 500 should remain under pressure until Q3 earnings season. Picture source: Fidelity Investments
Earnings, Dividends and Valuation Considering earnings growth, dividends and valuation, the U.S. stock market should remain under pressure until Q3 earnings season. Picture source: Fidelity Investments
Earnings Estimate Progression S&P 500 Q2 earnings have been better than expected, but Q3 earnings could turn negative at -2.3% amid the trade war. Picture source: Fidelity Investments
Earnings Growth and the Fed Cycle Analysts remain optimistic on 2020. This chart shows the expected earnings growth over the next 12 months. Picture source: Fidelity Investments
Earnings Estimate Progression The earnings recovery seems better than 2016. The Fed’s dovish pivot and low interest rates should continue to support the stock market. Picture source: Fidelity Investments
S&P 500 Quarterly Operating Earnings Expectations Despite the earnings squeeze, the Fed’s dovish pivot and low interest rates should continue to support the stock market. Picture source: Bianco Research
Global Manufacturing PMI Leads Earnings The chart suggests that Global Manufacturing PMI leads earnings by 9 months. Picture source: Charles Schwab
