The stock market's bottom line is looking up 👍
Analysts expect earnings to continue breaking records in the quarters to come 💥
With over 90% of S&P 500 companies having announced their most recent quarter’s financial results, Q2 earnings season is basically over.
And it was a record breaker.
“S&P 500 operating earnings per share (EPS) rose 10.9% y/y in Q2 to a record high of $60.19,“ Ed Yardeni and Eric Wallerstein of Yardeni Research observed on Monday.
“In short, there's no sign of an imminent recession as S&P 500 earnings rose to a record high during Q2,” the analysts added.
This is welcome news in the wake of the spike in stock market volatility this month that saw prices whipsaw as market participants scrambled to back into reasons things suddenly became bad.
The one thing that didn’t seem in dispute during this stretch, however, was the strength of corporate earnings.
