U.S. companies are beating Wall Street's earnings expectations at highest rate in nearly 2 years, but stocks don't seem to care.

U.S. companies have surpassed Wall Street’s profit expectations for the quarter ended in June, but investors don’t seem to care.

That... U.S. companies have surpassed Wall Street’s profit expectations for the quarter ended in June, but investors don’t seem to care. That means U.S. companies are on track to record their highest “beat” rate since the third quarter of 2021, Refinitiv said.“…[P]rice reactions post reporting 2Q earnings continue to look muted despite an aboveaverage EPS beat rate,” said a team of equity analysts led by Morgan Stanley’s Mike Wilson in a research note shared with clients earlier this week.

What’s more, the percentage of S&P 500 stocks climbing within one day after reporting earnings has fallen to 42%, the lowest level since at least the beginning of 2021.

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Source: CNBC - 🏆 12. / 72 Read more »