Cumulative Change in Consensus Earnings Estimates Despite a projected slowdown in earnings growth for the Magnificent 7 in 2025, analysts remain broadly optimistic about their continued market leadership. Image: Goldman Sachs Global Investment Research
S&P 500 Forward Earnings and U.S. Dollar Index The weakening U.S. dollar is raising significant concerns for U.S. corporate earnings, particularly through its interplay with tariffs and global economic uncertainty. Image: Bloomberg
Consensus Earnings Estimates Despite economic uncertainties and potential tariff impacts, downward revisions to 2025 EPS estimates have remained modest, underscoring their resilience. Image: J.P. Morgan Asset Management
Bottom-Up S&P 500 EPS Revision Will the earnings season drive the S&P 500 up or down? Image: BofA US Equity & Quant Strategy
S&P 500 EPS Revisions Sentiment S&P 500 earnings revision sentiment is currently pointing to a hard landing. Could the market experience a downturn in the near future? Image: Goldman Sachs Global Investment Research
S&P 500 Next Calendar Year EPS Revision – August Through December Should investors expect further earnings revisions in the coming months? Image: Morgan Stanley Research
Citi U.S. Economic Surprise Index vs. S&P 500 12-Month Earnings Surprise U.S. earnings revisions suggest negative economic surprises. Image: Morgan Stanley Research
Equities – MSCI U.S. vs. Earning Revision Ratio for MSCI U.S. Will U.S. equities continue to deliver after earnings revisions began to fade? Image: J.P. Morgan
Revision to Consensus S&P 500 EPS Have consensus earnings estimates for 2021 the potential to rise again? Image: BofA US Equity & Quant Strategy
S&P 500 Price Return vs. 2021 EPS Revisions This chart highlights the positive correlation between price return and 2021 earnings revisions. Image: Goldman Sachs Global Investment Research
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