S&P 500 Profits Are on Track for a Third Straight Quarter of 25%+ Growth. The Index Hasn't Kept Up.
Yahoo Finance ·
The S&P 500 ( ^GSPC +0.00% ) finished Monday at 7,764.70, less than half a percent below the record close of 7,798.99 it reached in mid-August. Typically, a market hits records by becoming pricier. Over the past three months, the reverse has happened. According to FactSet's Sept. 18 weekly earnings report, expected earnings for S&P 500 companies over the next 12 months have climbed 8.8% since June 30. The index's price, through the report's data, had gained just 1.8% over the same period. Profit expectations, in other words, have been doing almost all of the work.
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