Mar 1, 2017

Lowe's reaps the rewards of healthy housing market

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S&P earnings expected to grow in Q4 for the first time since 2018

Reproduced from FactSet; Chart: Axios Visuals

Given the way S&P 500 earnings have beaten estimates over the past few years it is likely the index will report earnings growth in the fourth quarter — the first and only quarter of growth last year.

Between the lines: John Butters, FactSet's senior earnings analyst, said in a note that on average nearly three-quarters of S&P 500 companies' actual earnings have exceeded estimates by about 5%.

Go deeperArrowJan 6, 2020

The S&P 500 could be overvalued

The New York Stock Exchange on Jan. 8. Photo: Xinhua/Wang Ying via Getty Images

The S&P 500 is too rich on a number of levels, according to calculations in a new paper from Ned Davis Research that examines the index's price to earnings, profits and price to sales.

What's happening: Not only is the benchmark stock index's current P/E ratio "well above fair value," S&P companies' prices relative to sales is at a record high, “well in excess of what they were in 2000 or 2007 at those peaks,” Ned Davis, the company's senior investment strategist, says in a note to clients.

Go deeperArrowJan 9, 2020

The stock market's quiet end to 2019

Data: Money.net; Chart: Axios Visuals

The S&P 500 rose half a percent on Thursday to top the 3,200 level for the first time.

The big picture: A year that saw equity prices whipsawed by trade war uncertainty and recession fears is ending (so far) on a relatively quiet note.

Go deeperArrowDec 20, 2019