Investment Review - May 2024
- The major U.S. stock indices were down in April, with major indices giving back some ground after the notable gains in the first quarter of 2024. The Dow Jones Industrial Average dropped 5.0%, while the S&P 500 decreased 4.2% and the Nasdaq Composite fell 4.4% during the month.
- With ~50% of S&P 500 companies reporting results for the first quarter of 2024, 77% have reported a positive earnings surprise and 60% of companies have reported a positive revenue surprise. Meanwhile, the blended earnings growth rate for the S&P 500 stands at 3.5%, this compares to the first quarter of 2023’s decline of -1.9%. The blended revenue growth rate is 4% for the current quarter. The return of earnings growth reflects the reduced impact of inflation on both prices and input costs.
Key Investment Statistics
Sources: Dow Jones Publishing, FactSet, Bloomberg, Bureau of Labor Statistics, U.S. Federal Reserve, Empirical Research Partners
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