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re: Whats the next event that could send the markets back down to the 3500 level or lower??
Posted on 11/24/22 at 6:55 am to FLObserver
Posted on 11/24/22 at 6:55 am to FLObserver
2023 S&P 500 forward earnings continually revised lower due to recession.
BofA now has 2023 S&P 500 earnings at $200. Assign a 16-18 multiple and that gets you to a 3200 - 3600 S&P 500.
Expect more lower earnings revisions throughtout December 2022-January 2023.
BofA now has 2023 S&P 500 earnings at $200. Assign a 16-18 multiple and that gets you to a 3200 - 3600 S&P 500.
Expect more lower earnings revisions throughtout December 2022-January 2023.
Posted on 11/24/22 at 11:33 am to frogtown
quote:
2023 S&P 500 forward earnings continually revised lower
Yep. Any index rally is going to be capped. It's not doomsday or anything, but there's not much upside for investors to be bullish about. Best case is sideways chop.
This is current S&P earnings data.
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