earning 5

? Earnings Scorecard: With 98% of the companies in the S&P 500 reporting earnings to date for Q2 2016, 71%
have reported earnings above the mean estimate and 53% have reported sales above the mean estimate.
? Earnings Growth: For Q2 2016, the blended earnings decline for the S&P 500 is -3.2% vs. the estimated earnings decline for Q2 2016 was -5.5%. Seven sectors have higher growth rates today (compared to June 30) due to upside earnings surprises, led by the Information Technology and Consumer Discretionary sectors.
? Earnings Guidance: For Q3 2016, 77 S&P 500 companies have issued negative EPS guidance and 33 S&P 500
companies have issued positive EPS guidance.
? Valuation: The forward 12-month P/E ratio for the S&P 500 is 16.9. This P/E ratio is based on Thursday’s closing price (2172.47) and forward 12-month EPS estimate ($128.77).