Market Insights, Two the Point

Two the Point — Unveiling Opportunities Beyond the Magnificent Seven

Andrew Davis, CFA®

Bryn Mawr Capital Management

< 1 min read

April 26, 2024

Two the Point

Explore our latest insights where we revisit Q1 2024’s earnings outlook, highlighting the sustained momentum of major tech players and the promising growth potential across the broader U.S. market spectrum.

Key Insights:

The S&P 500 shows a modest overall earnings growth rate of 0.5% for Q1 2024, with expectations of continued year-over-year growth.
The Magnificent Seven, including NVIDIA and Amazon, report a combined year-over-year earnings growth of 64.3%, significantly boosting the index’s performance.
Excluding the top tech companies, the remaining 495 companies in the S&P 500 are projected to exhibit double-digit earnings growth by Q4 2024.
Recent market recovery reflects a blend of technical rebounds and stabilization factors like rate stabilization and reduced geopolitical tensions.
Despite downward earnings revisions in sectors like Health Care, positive financial sector surprises have mitigated broader market impacts.

Andrew Davis, CFA®

Bryn Mawr Capital Management

Andrew Davis leads a team that analyzes broad economic trends and factors that impact global and national economies. He joined the company in 2019.

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Wilmington Savings Fund Society, FSB d/b/a/ Bryn Mawr Trust.Bryn Mawr Trust is a division of WSFS Bank.WSFS Wealth Management, LLC d/b/a Powdermill Financial Solutions, LLC. Powdermill Financial Solutions, LLC is a subsidiary of WSFS Financial Corporation.Bryn Mawr Trust Company of Delaware is a subsidiary of WSFS Financial Corporation.Products and services are provided through WSFS Financial Corporation’s subsidiaries and their affiliates.Trust and investment advisory services are offered through Bryn Mawr Trust. Bryn Mawr Trust is not a registered investment advisor.Investment advisory services are also offered through Bryn Mawr Capital Management, LLC (“BMCM”), an SEC registered investment advisor and a subsidiary of WSFS Financial Corporation. BMCM’s Registration as an investment advisor does not imply a certain level of skill or training.

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