Earnings Season Gains
Wednesday, February 22, 2012 at 01:12PM As we noted in our prior post, the S&P 500 gained 6.36% this past earnings season (from Alcoa's report date on 1/9 through Wal-Mart's report date yesterday). Below we highlight the S&P 500's percentage change during all earnings seasons since 2002, sorted from the best to the worst. We also include how the S&P 500 did during the following earnings off-season.
As shown, the 6.36% gain for the S&P 500 this past earnings season was the fifth best for the index over the last ten years. When the index has rallied more than 5% during earnings seasons, it has averaged a gain of 3.25% in the following off-season, with positive returns four out of five times. The average performance for the S&P over all earnings off-seasons has been 0.83%.
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