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US stocks set up for strong earnings season as S&P 500 growth seen rising
FactSet data projects S&P 500 year over year earnings growth of 24.7% for the second quarter, above the five year average of 16.4% and the 10 year average of 10.3%.
Second quarter earnings updates for several large US companies are in focus Wednesday, with Alphabet and Tesla among the names reporting as investors look for signals on artificial intelligence demand and the level of AI capex spending, according to Yahoo Finance.
Yahoo Finance also highlighted that IBM, GE Vernova, Texas Instruments, Intel, and AT&T are among the companies set to report Q2 results, with the broader earnings window seen as supportive for the S&P 500.
Based on FactSet data cited by Yahoo Finance, analysts estimate the year over year S&P 500 earnings growth rate for the second quarter at 24.7%. That compares with a five year average of 16.4% and a 10 year average of 10.3%.
If the forecast holds, Yahoo Finance said it would mark the second consecutive quarter of earnings growth above 20% for the index and the seventh straight quarter of double digit growth.
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