Earnings season kicks off: Key reports to watch
Earnings season kicks off: Key reports to watch
Earnings season kicks into high gear as Novartis, Goldman Sachs, BlackRock, UnitedHealth, Bank of America, Morgan Stanley, Charles Schwab, Progressive, Johnson & Johnson, Netflix, Abbott, Blackstone, Reliance, and American Express, prepare to report their financial results.
Recent weeks have seen a rally in stocks, driven in part by the belief that U.S. firms can deliver earnings robust enough to sustain current valuations.
Earnings estimates for the S&P 500 have risen steadily over the past three months, reaching a record high of $261.74 per share by the end of June. While the spotlight often falls on the 'magnificent seven' - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla - they are not the sole contributors to this growth. 83% of S&P 500 companies have reported profit increases, marking the highest level since 2022.
Another significant factor influencing stocks could be the upcoming remarks from Federal Reserve Chair Jerome Powell on Monday. Powell's comments will be closely watched, especially in light of last Thursday’s inflation report, which revealed that the Consumer Price Index (CPI) decreased to 3.0% in June.
Earnings season kicks into high gear as Novartis, Goldman Sachs, BlackRock, UnitedHealth, Bank of America, Morgan Stanley, Charles Schwab, Progressive, Johnson & Johnson, Netflix, Abbott, Blackstone, Reliance, and American Express, prepare to report their financial results.
Recent weeks have seen a rally in stocks, driven in part by the belief that U.S. firms can deliver earnings robust enough to sustain current valuations.
Earnings estimates for the S&P 500 have risen steadily over the past three months, reaching a record high of $261.74 per share by the end of June. While the spotlight often falls on the 'magnificent seven' - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla - they are not the sole contributors to this growth. 83% of S&P 500 companies have reported profit increases, marking the highest level since 2022.
Another significant factor influencing stocks could be the upcoming remarks from Federal Reserve Chair Jerome Powell on Monday. Powell's comments will be closely watched, especially in light of last Thursday’s inflation report, which revealed that the Consumer Price Index (CPI) decreased to 3.0% in June.
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