- Earnings Growth: For 1Q20, the est'd earnings for the S&P 500 is -2.9% vs +4.4% on Dec 31, 2019. If -2.9% is the actual decline for the quarter, it will mark the largest y/y decline in earnings reported by the index since 2Q16 (-3.2%). For 2Q20, est'd earnings of -3.9% & rev growth of +1.2%. For 3Q20, est'd earnings of +3.0% & rev growth of +3.1%. For 4Q20, est'd earnings of +7.3% & rev growth of +4.3%. For FY20, est'd earnings of +2.5% & rev growth of +3.2%. - Valuation: The Fwd 12-month P/E ratio for the S&P 500 is 13.9x. This P/E ratio is below the 5-yr avg (16.7x) & below the 10-yr average (15.0x). - 479 S&P 500 co.s that conducted quarterly earnings conference calls from January 1-March 18. Of these 479 co.s, 213 (44%) cited either the term “coronavirus” or “COVID-19” during the call. - Earnings Guidance: For 1Q20, 72 S&P 500 co.s have issued negative EPS guidance & 34 S&P 500 co.s have issued positive EPS guidance. $SPY $ES_F $VIX $UUP $TLT