The earnings season is in full swing, with more than 40% of S&P 500 companies already reporting their quarterly financial results. According to FactSet data, over 78% of these companies have exceeded analysts’ expectations, showcasing a strong performance in the market.
Next week, investors can look forward to key names such as Microsoft, Meta, Amazon, Apple, McDonald’s, and Boeing reporting their earnings. These megacap technology stocks and industry giants are expected to provide further insights into the market’s performance.
In other news, the Russell 2000 small-cap index is on track for a three-week winning streak, outperforming the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite. This rotation out of mega-cap tech stocks into smaller-sized counterparts is a notable trend in the market.
Additionally, the University of Michigan survey shows a lower inflation outlook, with consumers’ optimism slightly dimming in July. However, the expectation for inflation remains low, with the one-year outlook tying for its lowest level in over three and a half years.
Furthermore, the stock market opened higher on Friday, capping off a volatile week of trading. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw gains, indicating a positive end to the week.
Overall, the market continues to show resilience and strength, with various sectors and companies posting strong earnings and performance. Investors will be closely watching upcoming earnings reports and market trends to make informed decisions in the ever-changing landscape of the stock market.
