With earnings season nearly over, Q2 growth seen at 13.8% - LSEG
Main U.S. indexes rally: Nasdaq out front, up ~2.9%
All S&P 500 sectors green; Tech leads
Dollar edges up; crude, gold both up >1.5%; bitcoin up ~8%
U.S. 10-Year Treasury yield rises to ~4.01%
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WITH EARNINGS SEASON NEARLY OVER, Q2 GROWTH SEEN AT 13.8% - LSEG
With the second-quarter U.S. earnings season in the final stretch, S&P 500 .SPX earnings for the quarter are now expected to have increased 13.8% year-over-year, according to LSEG data as of Wednesday.
That estimate is up from 10.6% on July 1, and is based on results from 430 of the S&P 500 companies and forecasts for the rest.
While expected growth has gone up, some forecasts especially from the megacaps have worried investors and added to concerns for the market in the recent selloff.
About 78% of companies are beating analyst earnings estimates versus the 79% average of the past four quarters, the data showed.
(Caroline Valetkevitch)
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