Weekly Market Recap – February 27, 2023

With over 90% of the S&P 500’s market cap reported, we are tracking 4Q22 operating earnings per share (EPS) of $49.37,
representing y/y and q/q declines of 13.0% and 1.9%, respectively. Furthermore, S&P 500 operating margins are
sitting at 10.8%, down from 13.4% in 4Q21 and 11.3% in 3Q22.

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