According to Bank of America's equity and quant strategy team, 18% of the S&P 500 index components are reporting earnings this week.
Savita Subramanian, equity and quant strategist at Bank of America, sees a bright quarter ahead for corporate America. the economic surprise index the average post-Regulation Fair Disclosure third-quarter beat the average beat when estimates rose into earnings, andTheir conclusion is a 5% upside surprise for the benchmark S&P 500 this quarter.
The team looked into EPS revisions, sales revisions, and guidance as well as the ratio of positive to negative surprises in the previous quarter for 11 sectors.
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