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S&P 500 set for strong earnings stretch as Big Tech kicks off
FactSet estimates S&P 500 earnings growth of 23.2% year over year in Q2, above the five year average of 16.4%.
Yahoo Finance previews a heavy earnings schedule this week, with Chipotle, Starbucks, and Arm Holdings set to report Wednesday, followed by ExxonMobil and Chevron later in the week.
The outlet says attention will largely center on Big Tech results from Wednesday and Thursday, after Alphabet and Tesla posted earnings last week that pulled the tech sector lower.
According to FactSet data cited by Yahoo Finance, analysts estimate S&P 500 earnings growth of 23.2% year over year for Q2, which would be the second straight quarter of earnings growth above 20% and the seventh consecutive quarter of double digit growth.
The preview also points to a broader earnings season aimed at sustaining overall strength for the S&P 500 as Microsoft, Meta Platforms, Apple, and Amazon are scheduled to follow Alphabet and Tesla.
Latest closeS&P 500 7,428.78 ▲0.2%