Percentage of S&P 500 Companies Guiding EPS Higher/Lower This quarter, the percentage of S&P 500 companies revising EPS guidance lower, is much higher than in previous quarters. Image: J.P. Morgan
S&P 500 Tax Adjusted EPS vs. Trend Interesting chart showing that S&P 500 tax adjusted earnings are well above the trend in the United States, and have historically preceded earning plunges. Image: J.P. Morgan Asset Management
S&P 500 vs. 12-Month Forward EPS Estimate Chart suggesting that the 52-week rate-of-change in forward EPS could turn negative. Image: Lohman Econometrics
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. Image: Stifel
S&P 500 Operating EPS vs. USA National Income, Corporate Profits Thanks to buybacks, this chart clearly shows the current divergence. Is a new bubble being formed? Image: Nordea and Macrobond
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. Image: Oxford Economics, Macrobond
S&P 500 1-Year Volatility vs. EPS Revisions This chart from SG shows a good correlation between earning revisions and the S&P 500 1-year volatility. You may also like “S&P 500 1-Month Volatility History Since 1928 and VIX Since 1990.” Image: Societe Generale Cross Asset Research
S&P 500 Index Earnings per Share (EPS) Forward Estimates, Next 12 Months, Since 2018 The consensus S&P 500 earnings for the next 12 months has increased from $173 to $175. See why The Risk Of An Earnings Recession in 2019 Is Less Than You May Think. Image: LPL Research
Value vs. Growth – S&P 500 Index Earnings-Per-Share Growth EPS growth helps to explain why value stocks could outperform growth stocks in 2021. Image: Morgan Stanley Weath Management
Inflation – S&P 500 LTM Sales Growth vs. Core CPI Since 1970 Rising inflation tends to boost S&P 500 earnings. According to Goldman Sachs, a 100bp increase in average annual core CPI would lift the S&P 500 EPS to $170 in 2021. Image: Goldman Sachs Global Investment Research