S&P 500 Q1 earnings estimated growth improves; stocks up for week

NEW YORK - U.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness.

Some 90% of reports from the heavily-weighted communication services are surpassing Wall Street earnings estimates and 88% of reports from the technology sector are beating.The S&P 500 is up more than 2% for the week but remains down more than 2% since the end of March. "It's still a little early to draw a lot of conclusions, but I'm going to call this a mixed earnings season," he said.Also, shares of Intel on Friday were down sharply after it late Thursday gave a downbeat forecast.LSEG noted that the first-quarter forecast has been impacted heavily by an adjustment for Bristol Myers Squibb because of a $12 billion one-time charge related to its acquisition of Karuna Therapeutics.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500's latest record closes out best first quarter since 20192024's first quarter has been fruitful for investors.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares meander after S&P 500 sets another recordBANGKOK (AP) — Asian shares were mixed on Thursday after U.S. stocks broke out of a three-day lull to close at a record. Oil prices advanced, while U.S...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

MicroStrategy’s Bitcoin Bet Lifts Its Market Cap Above Nearly Half of S&P 500 FirmsWant a sense of how wild this year’s crypto rally has become: A software maker that’s also considered a Bitcoin hedge fund of sorts now has a stock market capitalization that’s higher than nearly half of the companies in the S&P 500 Index.
Source: BNNBloomberg - 🏆 83. / 50 Read more »