07/05/2024
Wall Street has best earnings season in 2 years
Stocks have shown strong resilience in recent weeks despite concerns about stubborn inflation and the potential for the Fed to maintain higher interest rates. The key factor behind this resilience is be the better-than-expected performance of first-quarter earnings.
With about 80% of S&P 500 companies reported their earnings, the index is on track to 5% growth in first-quarter earnings per share, the most substantial year-over-year increase since the second quarter of 2022 and surpasses the 3.2% growth expected.
S&P 500 has approximately 8% rally since the beginning of the year.
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