Brace for 'choppy' market after Wall Street analysts trim S&P 500 earnings estimates for third quarter

MarketWatch2021-09-14

'It's a good idea to lighten up on equity exposure,' says DataTrek co-founder Is the U.S. stock market heading for a correction in 2021? Another crack may be emerging in the U.S. stock market. "We don...

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Comments

SamYYL
2021-09-15
SamYYL
Like
HENRYCSC
2021-09-15
HENRYCSC
Tell me your opinion about this news...
- adonis123:
  Just be cautious. Dow has been opening up n closing down these days. Sign of danger??
Gabz
2021-09-14
Gabz
Sounds obvious
Cloivette
2021-09-14
Cloivette
Pls like
- BraydenChin:
  pls like
Penholder
2021-09-14
Penholder
Hi
PengsieX
2021-09-14
PengsieX
Diamond hands
- Penholder:
  Hi

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Considering current valuations of the S&P 500, DataTrek said U.S. stocks need the \"tailwind of rising earnings expectations\" as well as companies beating estimates.\n\"It's a good idea to lighten up on equity exposure,\" Colas said in the note. \"The near term is shaping up to be choppy.\"\nThe S&P 500 rose about 0.2% on Monday, trading near its all-time peak of 4536.95 on Sep. 2, after sliding 1.7% last week amid concerns the delta variant of the coronavirus may be slowing the economic recovery.\nThe materials sector of the S&P 500 was down 0.1% in Monday afternoon trading, while the industrials sector was up 0.1%, according to FactSet data, at last check.\nThe S&P 500 is valued at 20.3x earnings estimates for 2022, according to the DataTrek note.\nAt the end of last week, Wall Street analysts estimated in aggregate that third-quarter earnings per share for the S&P 500 will be $49.23, or $0.07 per share lower than forecast the prior week, Colas wrote, citing FactSet data. \"As much as analysts have been persistently too conservative with their estimates since Q2 2020, seeing them cut numbers (however slightly) is still worrisome.\"\nRBC Capital Markets has lifted its S&P 500 price target this year to 4,500, from 4,325, saying in a report Monday that its earnings-per-share forecast for the index has been revised higher to $200. The bank also raised its 2022 EPS forecast to $222 while introducing a price target of 4,900 for next year.\nBut \"one key risk that we are monitoring for the stock market -- and our call -- is the possibility that S&P 500 EPS growth will turn negative in early 2022,\" RBC analysts led by Lori Calvasina, head of U.S. equity strategy, said in the report. \"While we are not worried about an economic recession,\" the strategists said they're watching for \"the possibility that EPS growth for the S&P 500 may be weaker than the stock market can tolerate in early 2022.\"\nWall Street banks have delivered recent warnings of a looming correction for the U.S. stock market amid concern over stretched valuations. RBC also sees risk of a pullback by year-end, but views it as \"a buying opportunity,\" according to its report.\nDataTrek expressed \"confidence\" that the S&P 500 could this year push above its recent record high, despite expected volatility. While third-quarter earnings expectations have \"stagnated,\" U.S. large-cap stocks should still have enough \"earnings power\" to beat consensus estimates, according to the firm's note.\n\"That won't necessarily help current market sentiment,\" Colas said. \"We expect September to be volatile.\"","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":882117198,"gmtCreate":1631666963514,"gmtModify":1676530603404,"author":{"id":"4089205014499330","authorId":"4089205014499330","name":"SamYYL","avatar":"https://static.tigerbbs.com/c38b79dfd54364065e7068bc7e80dc9f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4089205014499330","authorIdStr":"4089205014499330"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882117198","repostId":2167433580,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":882991824,"gmtCreate":1631637004968,"gmtModify":1676530597569,"author":{"id":"3575091428590185","authorId":"3575091428590185","name":"HENRYCSC","avatar":"https://static.tigerbbs.com/6d47a6dec25b21dc547a5b982674c499","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575091428590185","authorIdStr":"3575091428590185"},"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/882991824","repostId":2167433580,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5871575,"gmtCreate":1631666634927,"gmtModify":1663233895642,"authorId":4087116753605820,"author":{"id":4087116753605820,"idStr":"4087116753605820","authorId":4087116753605820,"name":"adonis123","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches $1,000,000","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"93.24%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":882991824,"type":1,"supId":0,"prevId":0,"content":"Just be cautious. Dow has been opening up n closing down these days. Sign of danger??","text":"Just be cautious. Dow has been opening up n closing down these days. Sign of danger??","html":"Just be cautious. Dow has been opening up n closing down these days. Sign of danger??"}],"langContent":"EN"},{"id":882022872,"gmtCreate":1631632843896,"gmtModify":1676530596143,"author":{"id":"3570157581702554","authorId":"3570157581702554","name":"Gabz","avatar":"https://static.tigerbbs.com/a7d104b1912308e832968a46f0737f95","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3570157581702554","authorIdStr":"3570157581702554"},"htmlText":"Sounds obvious","listText":"Sounds obvious","text":"Sounds obvious","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882022872","repostId":2167433580,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":886512890,"gmtCreate":1631604675110,"gmtModify":1676530587668,"author":{"id":"4091018116118440","authorId":"4091018116118440","name":"Cloivette","avatar":"https://static.tigerbbs.com/ad2a0efb1d679fbe4fa2f053d2e03abb","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4091018116118440","authorIdStr":"4091018116118440"},"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/886512890","repostId":2167433580,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5868222,"gmtCreate":1631634281429,"gmtModify":1663233877965,"authorId":3559298661152538,"author":{"id":3559298661152538,"idStr":"3559298661152538","authorId":3559298661152538,"name":"BraydenChin","avatar":"https://static.tigerbbs.com/bfd2a88b99637dafe5b0bed7c46289a9","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":886512890,"type":1,"supId":0,"prevId":0,"content":"pls <u>like</u>","text":"pls <u>like</u>","html":"pls <u>like</u>"}],"langContent":"EN"},{"id":886536506,"gmtCreate":1631603712605,"gmtModify":1676530587434,"author":{"id":"3579250887819322","authorId":"3579250887819322","name":"Penholder","avatar":"https://static.tigerbbs.com/9ffe0aaee2dd78924704d35fd614749b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3579250887819322","authorIdStr":"3579250887819322"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/886536506","repostId":2167433580,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":886530794,"gmtCreate":1631603254618,"gmtModify":1676530587325,"author":{"id":"3578047933589423","authorId":"3578047933589423","name":"PengsieX","avatar":"https://static.tigerbbs.com/ebe92821eba3b91a6431d698b66bbed5","vip":2,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":3,"crmLevelSwitch":0,"idStr":"3578047933589423","authorIdStr":"3578047933589423"},"htmlText":"Diamond hands","listText":"Diamond hands","text":"Diamond hands","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/886530794","repostId":2167433580,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5863525,"gmtCreate":1631603717947,"gmtModify":1663233858040,"authorId":3579250887819322,"author":{"id":3579250887819322,"idStr":"3579250887819322","authorId":3579250887819322,"name":"Penholder","avatar":"https://static.tigerbbs.com/9ffe0aaee2dd78924704d35fd614749b","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.12.15","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":886530794,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":99,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; 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