US stocks could be stuck in quicksand for the rest of 2024 despite robust earnings growth, but investors shouldn't panic.
Wall Street expects double-digit earnings growth in 2024.
The consensus estimate for S&P 500 profits is about $244, which would be up from $220 in 2023.
The so-called SMID-cap cohort lagged its larger peers again in the first quarter, posting a solid 7.6% total return, while the S&P 500 surged 10.6%, including dividends.
Six sell-side research analysts cover the typical stock in the SMID-cap S&P 1000 index compared to 17 analysts for the average S&P 500 member, Belski wrote.
Persons:
Brian Belski, Belski, Evercore ISI's Julian Emanuel
Organizations:
Business, BMO Capital Markets, BMO