Earnings at the half point of the season: no sign yet of any collapse

At the halfway point for earnings, bulls are delighted earnings are coming in stronger than expected and expectations for the second half of the year remain high. Bears say bulls are in denial about the coming, much-anticipated recession. With 260 companies in the S & P 500 reporting, 79% are beating expectations, according to Earnings Scout. The average surprise was 6.1% above the estimate, slightly above the typical beat of roughly 6% seen prior to Covid.

06 Source: Refinitiv There are two reasons earnings estimates are not dropping for the second half: the economic outlook is uncertain but not dire, and the markets are waiting for the Fed to halt and reverse its rate-hike program. "There hasn't been enough of a reason for analysts to pre-emptively start cutting outlooks," Steve Sosnick, chief strategist at Interactive Brokers, told me.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Activision Blizzard’s Q1 earnings blow past estimatesActivision Blizzard Inc. which is down 11% after the U.K. competition authority said it would not allow Microsoft’s $69 billion takeover of the gaming...
La source: MarketWatch - 🏆 3. / 97 Lire la suite »

Nasdaq climbs on strong Microsoft earnings, Boeing jumpsThe tech-heavy Nasdaq advanced on Wednesday as strong Microsoft results offset concerns over rising interest rates.
La source: Reuters - 🏆 2. / 97 Lire la suite »

Why the broader U.S. stock market has ‘a lot riding’ on Big Tech earningsA small group of technology giants have fueled U.S. stock-market gains this year, creating high anticipation for their soon-to-be-released earnings reports. “There is a lot riding on Big Tech earnings this week, and the names reporting have a near term track record of delivering disappointing resul
La source: MarketWatch - 🏆 3. / 97 Lire la suite »