$Tiger Brokers(TIGR)$ The S&P 500 has resumed its march higher as strong first quarter earnings numbers have helped ease investor fears about inflation and a potentially delayed Federal Reserve pivot to interest rate cuts.
In May, the S&P 500 gained 4.2% despite concerns over slowing economic growth, weakening U.S. consumer sentiment and the possibility of stagflation ahead. The S&P 500 is up 10% year-to-date as investors have shrugged off mixed economic data and now anticipate lower inflation, earnings growth acceleration and interest rate cuts in the second half of 2024.
Investors are hoping the market can continue its bullish momentum in June as the S&P 500 enters a three-month stretch that has historically been one of the best periods of the year for stocks.
Looking ahead to second quarter reports, analysts are calling for:
S&P 500 earnings to increase 9.3% compared to a year ago
S&P 500 earnings growth to accelerate in the second half of the year
Full-year S&P 500 earnings growth of 11.4% in 2024
Full-year S&P 500 revenue growth of 5% in 2024
For the remainder of the year, the S&P 500 has posted respective average and median returns of 4.9% and 6.4% after May.
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