FOLLOW US

USA Herald December 12, 2024 4 mins read

Wall Street gears up for biggest earnings week in years

USA Herald ı By USA Herald

0 Comments

The Wall Street bull is seen in the financial district in New York

By Caroline Valetkevitch

NEW YORK (Reuters) - Forget about French elections or the flagging Trump trade.

Corporate America is set to unleash its biggest profit-reporting fest in at least a decade next week, with more than 190 members of the S&P 500 index <.SPX> delivering quarterly scorecards, according to S&P Dow Jones Indices data.

The lineup accounts for around 40 percent of the benchmark index's value, or more than $7.7 trillion, and includes big names like Google's parent Alphabet Inc <GOOGL.O>, Amazon.com Inc <AMZN.O>, Microsoft Corp <MSFT.O> and Exxon Mobil Corp <XOM.N>.

The onslaught could keep U.S. stock investors' focus largely on earnings next week even as the world's attention is likely to be drawn elsewhere.

"That would be our hope," said Joe Zidle, portfolio strategist at Richard Bernstein Advisors in New York.

"A lot of people looked at this market and said it was the result of the Trump bump or the Hillary relief rally," while earnings have been rebounding, he said. "The faster earnings growth is underappreciated by investors."

Many strategists have attributed the 10 percent rally in the S&P 500 <.INX> since Donald Trump's victory over Hillary Clinton in the Nov. 8 U.S. presidential election to optimism Trump would boost the domestic economy through tax cuts and an infrastructure spending binge.

The gains drove market valuations recently to their highest since 2004, even with little progress in Washington on the fiscal policy front. Meanwhile, other anxiety-provoking events have grabbed headlines, including unsettling relations with North Korea and this weekend's election in France, which has a bearing on the country's membership in the European Union and its currency, the euro.

Upbeat earnings from Morgan Stanley <MS.N> and other banks so far this reporting period cushioned those geopolitical worries, helping push the S&P 500 <.SPX> up 0.9 percent this week, its best such performance in two months. Shares of smaller companies did even better, with S&P's benchmark indexes for small <.SPCY> and mid-cap <.IDX> stocks notching their best weeks of 2017, with gains of between 2 percent and 3 percent.

Expectations for the quarter's profit growth have risen as well, and the first three months of the year now appear set to mark the strongest quarterly earnings growth in more than five years. In the last week alone, expected S&P 500 first-quarter earnings per share growth rose to 11.2 percent from 10.4 percent, a more than 7 percent jump, according to Thomson Reuters data.

"This week definitely has proven that the Street likes earnings - it's controllable, it's U.S.," said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices.

The reason for the slew of reports next week is anyone's guess, Silverblatt said, although recent holidays possibly played a role. Passover, Good Friday and Easter all fell in the previous weeks, which may have prompted some companies that typically report earlier to delay a week.

Just 76 companies reported this week compared with 134 in the comparable week a year ago, Silverblatt said.

Next week's rush will represent a 15 percent increase from the 166 S&P constituents that reported in the comparable week last year.

Thursday will be the busiest day with nearly 70 reports due, including updates after the closing bell from Alphabet, Amazon, Intel Corp <INTC.O>, Microsoft and Starbucks Corp <SBUX.O>.

That could make for a bang in the market on Friday, Silverblatt said, which is also the final trading day of April.

(Reporting by Caroline Valetkevitch; Editing by Dan Burns and Meredith Mazzilli)

Previous Article

Florida Man Arrested for Killing Father, Wounding Mother in Violent Dispute

Read More
349 Posts

USA Herald

We are The People’s Media. USA Herald covers breaking news, politics, and investigative journalism. For anonymous tips please contact Support AT usaherald.com.

Discussion

No comments yet. Be the first to join the discussion!

Don’t Miss It
America November 7, 2026
American Family Insurance Faces New Federal…

Developments Worth Watching in the Insurance Lawsuit Stacy Penning filed…

By – Samuel Lopez
America November 7, 2026
Alaska Senate Election Erupts Into Legal…

Three Critical Issues Behind Alaska’s Ballot Dispute Democrat Mary Peltola…

By – Samuel Lopez
America November 7, 2026
Better Home & Finance Faces Expanded…

NEW YORK — Better Home & Finance Holding Company (NASDAQ: BETR)…

By – Samuel Lopez
America November 7, 2026
Costco Hit With Federal Class Action…

Behind the Price Tags 1. Costco faces allegations that its advertised…

By – Samuel Lopez
America November 7, 2026
Goldman Sachs Bank USA Hit With…

What Consumers Should Know Goldman Sachs Bank USA faces allegations…

By – Samuel Lopez
America November 7, 2026
Pakistani Astronaut Set to Make History…

BEIJING, Nov. 7, 2026 — A Pakistani astronaut is set…

By – Jackie Allen
America November 7, 2026
New Study Finds Heat Waves of…

The devastating heat waves experienced around the world in recent…

By – Jackie Allen
America November 7, 2026
“Totally Made Up”: Marco Rubio Shoots…

Secretary of State Marco Rubio tells The New York Times…

By – Derek Johnson
America November 7, 2026
Sailor Killed on Greek-Owned Tanker in…

A seafarer died aboard the Greek-owned tanker Velos Sapphire in…

By – Derek Johnson
America November 7, 2026
Supreme Court Slams the Door on…

The Supreme Court denied, with no noted dissents, the Justice…

By – Derek Johnson
America November 6, 2026
Rogue AI Agents Lied, Stole and…

November 6, 2026 Disturbing Questions About AI Autonomy Roughly 1,200…

By – Samuel Lopez
America November 6, 2026
Delta Air Lines Window Seats Lawsuit…

Passengers who paid extra for a window seat but ended…

By – Tyler Brooks
America November 6, 2026
Stephen Miller to Replace Susie Wiles…

WASHINGTON — President Donald Trump announced Friday that Stephen Miller,…

By – Jackie Allen
America November 6, 2026
Binance $6.3 Billion Heist Puts Crypto…

The record-breaking Binance $6.3 Billion Heist is sending shockwaves through…

By – Tyler Brooks
America November 6, 2026
Anthem $160M Autism Therapy Scheme: Elevance…

Elevance Health and its Anthem-affiliated companies are seeking at least…

By – Tyler Brooks
America November 6, 2026
Aon, Blackstone Launch Lloyd’s Syndicate to…

Aon and funds managed by Blackstone, the New York-based alternative…

By – Tyler Brooks
America November 6, 2026
7 Haunted and Scary Places in…

Galveston is known for its beautiful beaches, Victorian architecture, fascinating…

By – Jackie Allen
America November 6, 2026
Jay Rockefeller, Former West Virginia Governor,…

John D. “Jay” Rockefeller IV, a political heir to one…

By – Rachel Moore
America November 6, 2026
2 People found shot in the…

A deadly shooting inside a Manhattan senior housing facility has…

By – Rachel Moore
America November 6, 2026
Tesla to end Cybertruck production as…

Tesla’s futuristic Cybertruck, a stainless-steel electric pickup that once promised…

By – Rachel Moore
Breaking News November 6, 2026
Paraguay’s President Resigns as Ueno Bank…

President Santiago Peña resigned after Ueno Bank's collapse locked nearly…

By – Derek Johnson
America November 5, 2026
Stock Market Reverses Post-Election Rally as…

NEW YORK — The Stock Market suffered a dramatic reversal…

By – Jackie Allen
America November 5, 2026
AI Stock Selloff Erases $2.5 Trillion…

NEW YORK — Wall Street suffered a massive AI stock…

By – Michallie K Harrison
America November 5, 2026
Artemis II Left a 3,100-Mile Atmospheric…

NASA’s Artemis II mission produced upper-atmosphere disturbances extending more than…

By – Michallie K Harrison
America November 5, 2026
AI Flagged Bias in Trump Climate…

WASHINGTON — Researchers on a Trump climate panel asked Microsoft…

By – Michallie K Harrison
America November 5, 2026
Russell Brand Convicted of Rape, Taken…

LONDON — Russell Brand was convicted of rape and three…

By – Michallie K Harrison
America November 3, 2026
Supreme Court Takes Up Colorado Preschool…

What the Justices Must Decide Colorado says every publicly funded…

By – Samuel Lopez
America November 2, 2026
California Botox Doctor Gets 15 Years…

What the Medicare Records Revealed A California doctor billed more…

By – Samuel Lopez
America October 31, 2026
A New 2026 Twin Study Revives…

Three Takeaways Identical twins and triplets were separated through adoption…

By – Samuel Lopez
America October 28, 2026
Michigan Double-Digit Health Insurance Hikes Set…

Michigan residents are facing another costly year for health coverage,…

By – Tyler Brooks
America November 5, 2026
Dallas Cowboys Face  Crisis After Crushing…

By Jackie Allen | USA Herald The Dallas Cowboys are…

By – Jackie Allen
America November 4, 2026
WNBA: DeWanna Bonner Makes Emotional Admission…

ATLANTA — The WNBA Finals ended in heartbreak for the…

By – Jackie Allen
America November 4, 2026
Inés Gómez Mont Arrested by ICE…

MIAMI —  Inés Gómez Mont, a former television personality who…

By – Jackie Allen
America October 31, 2026
Bill Belichick and Jordon Hudson Reportedly End…

Bill Belichick and Jordon Hudson reportedly ended their romantic relationship…

By – Jackie Allen
America October 29, 2026
Brewers Beat Rays to Win First…

ST. PETERSBURG, Fla. — The Milwaukee Brewers won their first…

By – Michallie K Harrison
America October 23, 2026
Connor Hellebuyck Traded to New Jersey…

The New Jersey Devils have made a major move to…

By – Tyler Brooks

No posts found.

No posts found.

Signup for the USA Herald
exclusive Newsletter