Q2 US earnings growth now seen at 9.6% yr-over-yr - LSEG
Main stock indexes each up >1%
All S&P 500 sectors higher; Tech in the lead
Dollar, crude slip; gold edges up; bitcoin advances ~1%
U.S. 10-Year Treasury yield ~flat at ~4.19%
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Q2 US EARNINGS GROWTH NOW SEEN AT 9.6% YR-OVER-YR - LSEG
The second-quarter U.S. earnings forecast has ticked down slightly from a week ago, according to LSEG data Friday, which marked the unofficial start of the reporting period.
With results in from just 27 of the S&P 500 .SPX companies, earnings for the quarter are now estimated to have increased 9.6% year-over-year, versus estimated growth of 10.1% a week ago.
Next week brings results from more banks and financial companies including Goldman Sachs Group GS.N, as well as reports from UnitedHealth UNH.N and Travelers TRV.N.
Moving forward, "there's going to be a focus on what's going on with the consumer," said Stephanie Lang, chief investment officer at Homrich Berg in Atlanta. "Is there any sign of weakening there?"
Also, "with AI being such a driver of the big tech names, there's going to be a lot of scrutiny (with) so much money being invested there."
(Caroline Valetkevitch)
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