Quant Ratings Updated on 85 Stocks
Optimism is spreading throughout Wall Street, as investors continue to cheer positive quarterly results, better-than-expected inflation data and a rosier economic outlook. In fact, the SP 500, Dow and NASDAQ climbed more than 3% higher last week. The reality is the second-quarter earnings season is proving to be a strong one. 87% of SP 500 companies have reported their latest quarterly results, and, according to FactSet, 75% have posted an earnings surprise and 70% have posted a revenue surprise. In addition, the current earnings growth rate now stands at 6.7% and the revenue growth rate is 13.6%. As I mentioned last week , the Consumer Price Index ( CPI ) was unchanged at 0% in July, which was much better than economists’ consensus expectation of a 0.2%. In the past 12 months, the CPI decelerated from a 9.1% annual pace in June to an 8.5% annual pace in July. The core CPI, which excludes food and energy, rose 0.3% in July and 5.9% in the past 12 months. The Producer Price Index (PPI) also showed that inflation is tapping the brakes.
Quant Ratings Updated on 85 Stocks
Optimism is spreading throughout Wall Street, as investors continue to cheer positive quarterly results, better-than-expected inflation data and a rosier economic outlook. In fact, the SP 500, Dow and NASDAQ climbed more than 3% higher last week. The reality is the second-quarter earnings season is proving to be a strong one. 87% of SP 500 companies have reported their latest quarterly results, and, according to FactSet, 75% have posted an earnings surprise and 70% have posted a revenue surprise. In addition, the current earnings growth rate now stands at 6.7% and the revenue growth rate is 13.6%. As I mentioned last week , the Consumer Price Index ( CPI ) was unchanged at 0% in July, which was much better than economists’ consensus expectation of a 0.2%. In the past 12 months, the CPI decelerated from a 9.1% annual pace in June to an 8.5% annual pace in July. The core CPI, which excludes food and energy, rose 0.3% in July and 5.9% in the past 12 months. The Producer Price Index (PPI) also showed that inflation is tapping the brakes.