Stocks continue to chug higher, tallying nearly 10% gains so far this year. Meanwhile, earnings reports continue to flow. Overall, 78% of companies that have reported beat Wall Street’s consensus.
According to FactSet’s Earnings Insight for the quarter, the S&P 500 has grown earnings at a 6.5% clip, with nine sectors expected to see an increase in earnings. (Energy is expected to report the most robust growth.)
Keeping an eye on valuations is crucial, as the forward price-earnings ratio for the S&P is 17.3, well above the market’s five-year average of 15.3.
This week, we’ll take a look at three more companies — two tech, one consumer giant — aiming to do the same next week.