|Data for week commencing 15 April 2019|
Given that Wall Street was closed on Good Friday, Thursday’s close will be critical to Monday’s market move locally. At the start of the week, Reuters reported that “of the 33 companies in the S&P 500 that have reported thus far, 81.8% have beaten Street estimates, better than the 65% average beat rate since 1994.”
And by the end of the week, Refinitiv revealed that 74% of the companies reporting so far had beaten expectations. The number crunchers say earnings for the S&P 500 as a whole are expected to decline 1.7%, the first negative quarter in three years but this would be an improve on early forecasts that projected an earnings drop of 4% plus.