Read the full article on Investing.com.
Excerpt:
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S&P 500 EPS growth for Q2 2023 is set to come in at -5.2%, the lowest rate in nearly 3 years and the third consecutive quarter of negative earnings growth
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Potential surprises this week: United Parcel Service Inc.
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This is the final peak week of Q2 earnings season with nearly 3,000 companies expected to report
A better-than-expected report from Amazon (NASDAQ:AMZN) saved a sliding market late last week. After notching three consecutive days lower, the S&P 500 rebounded on Friday after a stellar earnings report from the tech behemoth. Booking Holdings (NASDAQ:BKNG) also impressed investors Thursday after the bell with a Q2 report that showed the demand for travel amongst US consumers remains strong. And while Nonfarm Payrolls came in light, average hourly wages notched higher, increasing 0.4% for the month and 4.4% YoY, just above analyst estimates.
The overall S&P 500 blended EPS growth rate improved to -5.2% from -7.3% the week prior. This would still be the lowest growth rate since Q3 2020, but it’s a marked improvement from the prior two weeks.
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