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⚠️S&P 500 EARNINGS REVISIONS HAVE BEEN THE MOST NEGATIVE SINCE 2022⚠️ Wall Street analysts lowered their earnings estimates at the fastest pace since December 2022, according to the Citigroup US Earnings Revision Index. At the same time, companies' guidance suggests a strong Q2 https://t.co/ywECx8FspA
Seven out of 11 S&P 500 sectors are expected to see decelerating earnings growth in the third quarter, per earnings forecast revisions. This is a departure from what we had seen earlier, with the Inglorious 493 set to see growth accelerate. That is no longer the base case here. https://t.co/15LMDfPBFr
U.S. Earnings Revisions Index from @Citi fell for 4 consecutive weeks thru end of September, with severity of magnitude picking up https://t.co/JA48DWyI0E
Recent analysis indicates that earnings revisions for the S&P 500 are at their most negative levels since 2022. The U.S. Earnings Revisions Index from Citigroup has declined for four consecutive weeks through the end of September, with the severity of the revisions increasing. Seven out of 11 sectors within the S&P 500 are projected to experience decelerating earnings growth in the third quarter, a shift from earlier expectations that had anticipated growth acceleration. Analysts have lowered their earnings estimates at the fastest pace since December 2022, reflecting a significant change in market sentiment.