A flat major scale degree numbers9/8/2023 He added that signs of a widening market rally have emerged in the past month. “But we’re more concerned and frankly, somewhat optimistic about the earnings picture for the second half of this year, in particular 2024.” “We beat that bar, but still, thus far been indications that we’re going to end up in a negative year-over-year growth from an earnings standpoint,” said Buchanan. To be sure, Globalt Investments senior portfolio manager Keith Buchanan noted that expectations coming into this season were negative. This further raises hopes that the economy will be able to avoid a recession as inflation begins to show signs of slowing. More than half of the companies in the broad market index have already reported, with 80% posting earnings beats, according to FactSet. More than 160 S&P 500 constituents are slated to report their latest quarterly results this week. In July, the S&P 500 and the Dow each gained more than 3%, while the tech-heavy Nasdaq advanced about 4.1%. The Dow rose 0.28%, while the S&P 500 and the Nasdaq Composite edged up 0.15% and 0.21%, respectively. The major indexes all ended Monday’s main trading session modestly higher. Futures linked to the S&P 500 and Nasdaq 100 futures both climbed 0.02%. stock futures traded near the flat line Monday night as investors await a flood of corporate earnings reports.ĭow Jones Industrial Average futures fell by 7 points, or 0.02%.
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