While many industry analysts remain optimistic about the earnings outlook for the S&P 500 industries they cover, some of them are turning more cautious. We can see this in the following table which shows the ytd performance of forward earnings through the June 2 week. The following are our main quick takes:
(1) Here is the ytd performance derby of the forward earnings for the S&P 500 and its 11 sectors: Energy (60.8%), Real Estate (12.1), Materials (11.8), Information Technology (8.9), Industrials (8.5), S&P 500 (7.8), Financials (6.4), Utilities (3.6), Consumer Staples (2.0), Consumer Discretionary (1.0), Health Care (0.5), and Communication Services (0.2).
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