Citi: Q1 earnings support bullish view toward S&P 500 fundamentals
Citi strategists said the Q1 reporting season can be described as a "beat-and-hold," noting that 2024 consensus growth expectations for theMeanwhile, the relationship between sector earnings and stock performance has been so far mixed during this reporting period, they added.
“All told, valuations are still telling us strong fundamentals are expected, and need to be delivered on,” they said, adding that their 2024 S&P 500 earnings per share estimate of $245 “should be attainable, if not conservative.” In terms of broadening, Mega-cap stocks remain crucial to index growth, though this influence should lessen as the year progresses, particularly if economic data indicates continued recovery in manufacturing. The "other 493,” on the other hand, are just beginning to show growth for 2024, implying stabilization now and growth later, strategists highlighted.
“Market-implied growth expectations, the annualized 5-year FCF growth rate needed to justify current index levels, have fallen thus far into the quarter as the index has pulled back while fundamentals improve,” strategists wrote.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Citi: Q1 earnings support bullish view toward S&P 500 fundamentalsCiti: Q1 earnings support bullish view toward S&P 500 fundamentals
Read more »
Mother hoping to inspire others to try OneAmerica 500 Festival Mini-MarathonWith the Mini Marathon a month away, volunteers tell 13News they're excited to watch everyone cross the finish line.
Read more »
Boeing's tip line submissions were up 500% on the year during the first quarterCalls to Boeing's tip line for workers to report safety and quality concerns have increased 500% from a year ago after the mid-air blowout of a 737 Max 9 plug door panel.
Read more »
Stock futures inch higher after the S&P 500 registers third straight losing day: Live updatesThe S&P 500 and Nasdaq Composite cinched their third straight negative session on Tuesday.
Read more »
Stock Market Today: S&P 500 closes lower as Powell signals higher for longer ratesStock Market Today: S&P 500 closes lower as Powell signals higher for longer rates
Read more »
Analysis: Kyle Larson settling in quickly as preparation continues for Indianapolis 500 debutNASCAR star Kyle is doing all that he can to prepare to run in next month's Indianapolis 500. He has tested at Indianapolis Motor Speedway and did a private test in Phoenix to get used to the Indy car. He plans to be the fifth driver in history to attempt “The Double.
Read more »