Microsoft hit an all-time high after the company secured a cloud-computing contract with the Pentagon worth $10 billion. AT&T rose more than 3% on an earnings beat and the release of a new plan to meet activist investor Elliot Management's goals.
According to Bank of America Merrill Lynch, S&P 500 earnings have come in about 2% above consensus estimates. About 50% of firms within the index have reported so far, the firm said. climbed back above $1 trillion amid robust demand for new iPhone models.
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S&P 500 heads for record as earnings reports signal a recession is nowhere near'Of the S&P 500 companies that have reported over the last month, just 32 mention recession on their calls,' says Nick Mazing of Sentieo. And then there is reality... Q1 GDP 3.1% Q2 GDP 2.0 % Q3 GDP forecasted at 1.5% By definition a recession is 2 or more quarters of negative GDP growth. We are not there yet but certainly moving in that direction A LOT of stocks tanked this earnings season with flat and negative revenue growth ?
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