It’s a stock pickers market
It’s a stock pickers market.
So far thru Q4 earnings, companies beating estimates by >1 Std Dev have outperformed the $.SPX(.SPX)$ by +1.4% in the session after reporting (vs historical avg of +1.0% of outperformance).
Companies missing earnings estimates are being punished twice as much as the historical avg (-4.3% vs avg of -2.1%).
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