Earnings results have generally been stronger-than expected. Of the companies that have reported thus far, 81% have beaten analyst expectations, according to FactSet data.in the second quarter, which was better than the 2% increase expected by economists polled by Dow Jones. The report also suggested price pressures are easing, with the personal consumption expenditures price index rising 2.6% in the second quarter. That's lower than the 3.2% increase expected by economists, and the 4.
"Those very high rates that scared me and the market earlier on in the year don't seem to be having as much of a negative effect as I had feared," Wharton School's Jeremy Siegel told CNBC's "" on Thursday. "And that, combined with the fact that Powell now is saying I'm going to look at both sides of the equation, I think is very positive for the markets.
Second-quarter earnings season is nearly halfway through. So far, 44% of S&P 500 companies have reported results, or 219 companies.
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