LIVE MARKETS-Positive earnings outlooks from S&P 500 slightly outpacing negative ones on Q2

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POSITIVE EARNINGS OUTLOOKS FROM S&P 500 SLIGHTLY OUTPACING NEGATIVE ONES ON Q2

Positive earnings pre-announcements from S&P 500 .SPX companies are outpacing negative ones on the second quarter by 61 to 58, according to recent data from Tajinder Dhillon, head of earnings and equity research at LSEG Data & Analytics.

There are a total of 132 pre-announcements so far from S&P 500 companies, with 13 of them giving in-line outlooks. There were 122 pre-announcements in the year-ago second quarter, with 68 of them coming in negative and 46 positive. Not all companies give guidance on earnings.

The latest pre-announcements result in a negative-to-positive ratio of 1 to 1, which compares to a long-term negative-to-positive ratio since 1997 of 2.5 to 1 and to the average of the prior four quarters of 1.3 to 1, Dhillon notes.

Analysts are expecting another earnings season of more than 20% profit growth for S&P 500 companies, based on LSEG data.

They estimate growth of 24.4% year-over-year for the second quarter compared with 29.4% growth in the first quarter.

Earnings season unofficially starts with results from many of the U.S. big banks including JPMorgan Chase JPM.N next week.

(Caroline Valetkevitch)

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