Global Profit Cycle – South Korea Exports and Global EPS Chart showing the correlation between South Korea exports and global EPS. Image: BofA Global Investment Strategy

Annualized EPS Growth Across Major Global Equity Markets Goldman Sachs expects that EPS will modestly accelerate to 6% in the U.S. next year. Image: Goldman Sachs Global Investment Research

Global Semiconductor Sales vs. MSCI World EPS Growth Chart suggesting that global semiconductor sales may have bottomed. That’s good news for global EPS growth. Image: Jeroen Blokland

Facebook, Amazon, Apple, Microsoft and Google and S&P 500 EPS Growth FAAMG supported S&P 500 EPS growth. Image: Goldman Sachs Global Investment Research

S&P 500 Quarterly YoY EPS Growth The median S&P 500 stock is now expected to grow earnings per share by 7% this year. Image: Goldman Sachs Global Investment Research

U.S. Survey Data and EPS Growth BofA’s model suggests 11.4% U.S. EPS growth by the end of Q2 2020. Image: BofA Global Research

% of S&P 500 Companies Guiding Next-Quarter EPS above Consensus “33% of S&P 500 companies have provided 1Q 2020 guidance above consensus.” Image: Goldman Sachs Global Investment Research

The SARS Analog – Virus Outbreaks and Global Markets The chart shows the SARS analog (2002 vs. 2020), highlighting the S&P 500 Index, the MSCI China Index, emerging markets vs. U.S. EPS and the CRB Raw Industrials Index. Image: Fidelity Investments

S&P 500 EPS Growth: 12-Month Leading Indicator The earnings growth leading indicator suggests a mild recovery of growth in 2020. Image: KKR Global Macro

Median S&P 500 EPS Growth The median S&P 500 stock is expected to grow earnings per share by 8% this year. Image: Goldman Sachs Global Investment Research