Earnings season for SP500 will conclude next week, based on Reuters data there are 17 companies left to report.
This is the second week in a row negative for ES Futures. Last time this happen was Oct2016. Return: -2.5% from all time high to the close today.
NQ Futures had 4 weeks in a row negative. Return: -3.3% from all time high to the close today.
- Second quarter earnings are expected to increase 12.1% from Q2 2016. Excluding the Energy sector, the earnings growth estimate declines to 9.4%.
- Of the 474 companies in the S&P 500 that have reported earnings to date for Q2 2017, 73.8% have reported earnings above analyst expectations. This is above the long-term average of 64% and above the average over the past four quarters of 71%.
- 68.9% of companies have reported Q2 2017 revenue above analyst expectations. This is above the longterm average of 59% and above the average over the past four quarters of 56%.
- For Q3 2017, there have been 60 negative EPS preannouncements issued by S&P 500 corporations compared to 34 positive EPS preannouncements. By dividing 53 by 34, one arrives at an N/P ratio of 1.6 for the S&P 500 Index.
- The forward four-quarter (3Q17 – 2Q18) P/E ratio for the S&P 500 is 17.6.