U.S. ISM Manufacturing Index and Cyclicals EPS Revision

U.S. ISM Manufacturing Index and Cyclicals EPS Revision This chart shows the correlation between the ISM Manufacturing Index and cyclicals EPS revision, suggesting that 4Q19 will see a reset, with capital goods pricing in an actual earnings recession. Image: Morgan Stanley Research

S&P 500 Earnings Estimates

S&P 500 Earnings Estimates Analysts are projecting S&P 500 earnings in 2020 will rise nearly 10%-11%, but a downward revision is possible, due to the global slowdown and impact from the trade war. Image: Fidelity Investments