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DeepNewz, mobile.
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"Back in 2008 the S&P500 was almost 16% Energy. By 2020, it was 2%. Today it's still just 3%. This trend is just getting started." @allstarcharts https://t.co/i2q4d3JnPR
In 2008, energy was 16% of the S&P500. In 2020, it was 2%. Today, it's 3%. https://t.co/vxC6xmDKjt https://t.co/JFK5J8S0hy
"Analysts have increased earnings estimates (in aggregate) for companies in the Energy sector for the remaining three quarters in 2024 over the past three weeks." @FactSet https://t.co/R2vrPx4DY4
The Energy sector shows low correlation with tech, is considered cheap, and has potential tailwinds for growth. However, 3 out of 5 sub-industries in the S&P 500 Energy sector are experiencing Y/Y earnings declines of 15% or more for Q1 2024. Analysts have raised earnings estimates for Energy sector companies for the remaining quarters of 2024. The trend of Energy's decreasing weight in the S&P 500 from 16% in 2008 to 3% today indicates a potential ongoing shift.
