FILE - Pedestrians walk past the Nasdaq building Tuesday, March 26, 2024, in New York. Last year, a handful of Big Tech stocks were behind much of corporate America’s profit growth. Now, as the heart of earnings reporting season arrives on Wall Street, the hope is that profit growth will broaden out to a wider range of companies.
But as defense contractors and other big industrial companies line up to report their latest results, the hope is that profit growth will broaden out to a wider range of companies. Or Waste Management, which reports on Thursday. Analysts expect it to show an acceleration in profit growth to 15.3% from 1.6%. They say it’s benefiting from higher prices for its collection and disposal services.Sluggish start for spring homebuying season as home sales fall in March with mortgage rates risingGive credit to the remarkably resilient U.S. economy, which continues to hum despite high interest rates meant to bring inflation down.
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