Valuations coming down So if earnings are up, why is the S & P off its highs?
Today, a month later, 2024 earnings estimates are essentially the same but the multiple has declined to 20.8.
The S & P 500 hit a low of 4,117 on Oct. 27 and only recovered when rates came down in early November.
There are some big drags on earnings Some companies are seeing large declines in earnings estimates that are weighing on their sectors.
When including this one-time item, the S & P 500 earnings growth rate for the first quarter declines to 5.6%, from 8.7%, LSEG has noted.
Persons:
Goldman Sachs, JPMorgan Chase, Morgan Stanley, Christopher Suh, Stephen Squeri, Hess, Nick Raich, LSEG, Hal Lawton, Brian Niccol, CNBC's Kate Rogers, Horton, Paul Romanowski, Kimberly, Clark, Michael Hsu
Organizations:
Companies, Netflix, JPMorgan, GE Aerospace, Caterpillar, Microsoft, Merck, Ford, Waste Management, Royal, Consumer, American Express, Energy, Marathon Petroleum, Apache, Valero Energy, Oil, Occidental Petroleum, Devon Energy, ConocoPhillips, Exxon Mobil, Scout, Bristol Myers Squibb, Karuna Therapeutics, Boeing, Nvidia, Meta, AMD
Locations:
financials, industrials, Royal Caribbean, North America