We’ve just published today’s Morning Lineup featuring all the news and market indicators you need to know ahead of the trading day. To view the full Morning Lineup, start a two-week free trial to Bespoke Premium.
Here’s a snippet from today’s report:
As noted in our B.I.G. Tips report yesterday, while it starts off slowly, earnings season kicks off this week as the big banks start to report earnings on Friday and early next week. In this report, we provide a breakdown of how analyst sentiment is stacking up heading into the reporting period and how that bodes for equities. If you haven’t seen it yet, make sure you do!
Given the equity market’s strong performance during the last earnings season, it’s going to be hard to get a repeat performance. That doesn’t mean returns can’t be positive, but if you are expecting anything resembling the last earnings season, you’re being way too greedy. The table below shows the performance of the S&P 500 and each sector during the Q4 earnings season (1/11—2/22) and how that performance ranked versus prior quarters. With a gain of 7.57%, the S&P 500’s performance was the best earnings season showing since the Q2 2009 reporting period. Industrials and Technology were the same with a gain of 10.9%. Other sectors with notable performance relative to recent history included Consumer Staples (best since Q3 2013) and Consumer Discretionary (best since Q4 2014).
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