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$VIX Spike 🚨 Semis & $QQQ super bearish $MSFT leading the sells!
One stock is dragging down the S&P 500's earnings growth https://t.co/Djy5Gneff0 by @_JoshSchafer
Another way of spinning this is outside of the Mag 7, we’ve already been in a 5-quarter earnings recession and these things tend not to last forever in an economy growing 5-6% nominally. https://t.co/13UezIGd84
The S&P 500 is reporting a year-over-year revenue growth of 4.1% for Q1 2024, exceeding the estimated 3.5%. Earnings season is performing well, with companies experiencing the best season in nearly 2 years. However, excluding certain companies, the S&P 500 EPS growth is -2% year-over-year, marking the 5th consecutive quarter of negative growth.