Today: Jun 23, 2024

Corporate America rocks with amazing financial results.

1 min read

Corporate America is delivering strong financial results, with 80% of S&P 500 companies exceeding earnings expectations for Q4, according to Refinitiv data. The earnings growth projection for the S&P 500 has also increased to 9% year-over-year, up from the initial forecast of 4.7% growth. The equity markets experienced a mixed performance last week, but the S&P 500 reached a record high, surpassing 5,000 for the first time. The annual CPI revisions from the BLS indicated that inflation had moderated as expected, reassuring the Federal Reserve. In forex markets, the yen weakened, prompting concerns from Japan’s finance minister about stable FX movements. The IMF recommended that the Bank of Japan consider exiting unconventional monetary policy measures and make gradual changes to its policy framework. Meanwhile, oil futures saw a bid due to concerns arising from weekend headlines about renewed enforcement measures on Russian oil sales by the US Treasury.