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Strong Earnings Will Give S&P 500 a Boost

Apr 22, 2024 - bloomberg.com
The S&P 500 Index is expected to recover from its recent slump due to strong earnings from Corporate America, despite concerns over a significant increase in bond yields, according to Bloomberg’s latest Markets Live Pulse survey. This week's reporting season, featuring results from Big Tech giants like Microsoft Corp., Meta Platforms Inc., and Alphabet Inc., is anticipated to boost the US equity benchmark, as nearly two-thirds of the 409 respondents believe.

This level of confidence in corporate profits is the highest since the survey started asking this question in October 2022. The respondents are optimistic that robust earnings will provide a much-needed lift to the S&P 500 Index, despite the prevailing market uncertainties.

Key takeaways:

  • Robust earnings from Corporate America are expected to pull the S&P 500 Index out of its latest morass, despite rising concerns about a significant jump in bond yields.
  • The prediction is based on Bloomberg’s latest Markets Live Pulse survey.
  • Reporting season is kicking into high gear this week with results from Big Tech giants such as Microsoft Corp., Meta Platforms Inc. and Alphabet Inc.
  • Nearly two-thirds of 409 respondents said they expect earnings to give the US equity benchmark a boost, marking the highest vote of confidence for corporate profits since the poll began asking the question in October 2022.
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