Search Results for: revision

S&P 500 and Earnings Revisions In recent history, the S&P 500 has bottomed when the second derivative of earnings revisions have bottomed. Image: UBS

STOXX Europe 600 EPS Revisions This year, SXXP EPS revisions have not been worse than a typical year. 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

Earnings Revisions Strategy Outperforms Around First Fed Rate Cut Around first Fed rate cut, earnings revisions is the top factor out of 200 strategies. Image: Ned Davis Research

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

Change in Consensus EPS The market is still a Big Tech story. Earnings estimates for 2026 keep climbing for the tech giants, while the rest of the S&P 493 struggles to keep up. Image: Goldman Sachs Global Investment Research

Discretionary Investors Equity Positioning vs. S&P 500 EPS Growth Discretionary investors are bracing for a sharp slowdown in earnings growth that’s increasingly hard to square with the data. If that gloom lifts, risk appetite could snap back and drive equities higher. Image: Deutsche Bank Asset Allocation

S&P 500 and Stoxx600 – Q3 2025 Reporting Season Calendar About 16% of S&P 500 firms report earnings this week, but the real test comes next week, with roughly 44% set to deliver results—a pivotal moment that could set the tone for the rest of the season. Image: J.P. Morgan

Typical Path of S&P 500 Bottom-Up Consensus EPS Estimate While positive earnings revisions have been strong recently, this momentum is likely to slow, though it probably won’t fall below the usual historical trend of downward revisions. Image: Goldman Sachs Global Investment Research

Evolution of Earnings Consensus After an initial wave of downward revisions, Q2 2025 consensus earnings estimates have stabilized and remained relatively flat over the past six weeks, with no significant cuts reported recently. Image: Deutsche Bank Asset Allocation

Bottom-Up Consensus S&P 500 EPS Estimates Bottom-up consensus estimates show S&P 500 EPS growth slowing to 4% year-over-year in Q2 2025, highlighting a cautious earnings environment amid ongoing revisions and sector challenges. Image: Goldman Sachs Global Investment Research