S&P 500 had best week since early Nov 2023, +2.7% after 3 weeks of losses, as corporate earnings generally surprised to upside; Dividend Aristocrats was only S&P 500-related strategy to close week in red, -0.1%, while Tech took home trophy, +5.1% ⁦@SPDJIndices⁩ pic.twitter.com/rZBdI2x2Fp

Comm Serv soared today and is now back in first place YTD (still trailing Energy by 0.1% MTD); Tech did well today, too, but is still down by nearly 4% MTD … NASDAQ’s 2% gain today bumped it to third place YTD; small caps did well but didn’t outpace large caps (and they continue… pic.twitter.com/HAiuVWX0FF

This week’s #markets were supposed to be mainly about earnings, with macro taking more of a back seat ahead of next week’s US #jobs data, the #FederalReserve meeting, #China’s PMI, etc (more on this in the weekly look ahead that I will post later). Earnings did have a notable… pic.twitter.com/8lYAakVct5

S&P 500 earnings in '24 are expected to be up 10.3% and another 13.9% next year. Yes, forward estimates can change, but they can also change to the upside. We continue to think this is too low, as the recovery will continue to broaden out. pic.twitter.com/6Qo9SAI70u