U.S. GDP Growth Should Be Positive When Reported This Week.
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Earnings season started to pick up steam last week, with 66 S&P 500 companies reporting. The S&P 500 rose by over 4.7% for the week. This week will be the second busiest of the third-quarter earnings season, with 166 S&P 500 companies scheduled to report. 20% of S&P 500 companies have reported results so far, with 72% and 70% exceeding consensus earnings and sales estimates, respectively.
Earnings Season As Of 10/21/2022
Glenview Trust, FactSet, Bloomberg
While still early in the season, blended earnings, which combine actual with estimates of companies yet to report, are a bit lower than forecasts at the end of the quarter. The high earnings growth rate for the industrials is boosted by the airlines since the group reported a loss in the third quarter of 2021 and should post a profit this quarter. Five sectors, including energy, industrials, real estate, consumer…
