Last week’s mixed corporate earnings and strong retail sales drove the S&P 500 to another record close on Friday. Analysts expected year-over-year growth in Q3 earnings per share(EPS) for the S&P 500 of 1.9%. Information technology leads the way at 15%, with energy coming in last at -30%. Prudent portfolio rebalancing across sectors could position portfolios in 2025 to benefit from expected double-digit earnings growth in materials, industrials, and energy (JPM Weekly Markert Recap).
Earnings from the financial and industrial sectors should dominate financial headlines this week. The September figures for sales of existing and new homes are available this week. Both markets saw a slip in sales in August. With lower expected mortgage rates and increasing inventory, sales should pick up some steam throughout the remainder of the year.
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David Bennett