FTA

First Trust Large Cap Value AlphaDEX® Fund  (FTA) declares $0.1726/share quarterly dividend, -52% decrease from prior dividend of $0.3597.Forward yield 1.1%Payable March 31; for shareholders of record March 26; ex-div

First Trust Large Cap Value AlphaDEX® Fund  (FTA) declares $0.3597/share quarterly dividend, 37.6% increase from prior dividend of $0.2614.Forward yield 2.66%Payable Dec. 31; for shareholders of record Dec. 28; ex-div

The "average" expected S&P 500 EPS growth for calendar 2020 and 2021 is still 4%.The S&P 500 earnings yield has jumped to 4.64% versus last week's 4.35%, or the highest earnings yield since early May '20.The pullback in the S&P 500 and the Nasdaq is in fact helping the S&P earnings yield work its way higher as forward earnings continue to improve.

Final Q2 '20 data shows that the final bottom-up estimate for Q2 '20 was $27.98. The estimate started the quarter at $23.16.The initial Q3 '20 "bottom-up estimate is $32.85. By the time we see Christmas Day, this estimate should be up near $35.The sectors with the sharpest improvement already heading into Q3 '20 earnings are Consumer Discretionary, Financials, and Materials.

First Trust Large Cap Value AlphaDEX® Fund (FTA) declares $0.2614/share quarterly dividend, -6.1% decrease from prior dividend of $0.2784.Forward yield 2.31%Payable Sept. 30; for shareholders of record Sept. 25; ex-div

S&P 500 earnings data (courtesy of IBES data by Refinitiv) continues to show positive sequential increases in weekly S&P 500 earnings estimates for various time frames.The correction being seen in the US equity market - at least so far anyway - isn't supported by a degradation in either the forward 4-quarter S&P 500 EPS estimate or the various time frames covered by the S&P 500's "forward earnings curve".Despite the sharp drop in the large-cap Tech stocks, the Tech sector estimates haven't changed that much.

Over the last several weeks, the S&P 500 has been on a tear, setting records on an almost daily basis despite lacking breadth, with the biggest rises in stock prices concentrated in the technology sector.Until last week, when what we've described as a bubble in stock prices appears to suddenly pop after spiking up to hit an all-time high.Remarkably, the S&P 500 waited to exit the redzone forecast range we've been focused upon for the last six weeks in the alternative futures chart.