Brian Gilmartin | Oct 05, 2021 01:10AM ET
There are 11 sectors in the S&P 500.
Readers need to see how the expected Q3 2021 sector revenue growth rates have changed since mid-August 2021 or the unofficial end of Q2 2021 earnings season:
Sectors ranked from strongest to weakest expected Q3 2021 revenue growth:
Sectors with the biggest upward revisions since Aug. 13 2021 for Q3 2021 revenue:
Sectors with the biggest downward revisions since Aug. 13 2021 for Q3 2021 revenue:
Tesla's (NASDAQ:TSLA) announcement over the weekend of stronger-than-expected Q3 2021 car deliveries will likely help the Consumer Discretionary sector next week in terms of possible revisions, although Tesla’s earnings weight is much smaller than it’s market cap weight in the S&P 500.
The dollar’s influence is bigger than readers might suspect on the S&P 500 since 40% – 45% of the entire benchmark’s revenue is non-US.
h2 Conclusion/h2The S&P 500 has now reached “extremely oversold” levels, worse than the oversold extreme seen in late October of 2020.
While today might not have been the exact bottom, you’d have to think “extremely oversold” is within a 9-iron of a longer-term tradeable bounce.
So far – since mid-August – anyway, the lack of revenue revisions could bode well for Q3 2021 earnings.
Financials will report first next week, as they always do: JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC), Citigroup (NYSE:C), and Wells Fargo (NYSE:WFC) all report next Wednesday and Thursday of next week. Morgan Stanley (NYSE:MS) and Schwab (NYSE:SCHW) are in there too.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.