Market… Just over 10% of companies in the S&P 500 have reported results, according to FactSet. Of those that have already reported, about 78% have surpassed analyst expectations.
Charles Schwab senior investment strategist Kevin Gordon said the market focus is shifting to revenue growth this earnings season. He added that investors are trying to decipher which companies are seeing increased demand and which are boosting their earnings through cost-cutting measures alone.
“We’re at a point in the cycle now where companies really need to start showing actual demand coming back online,” he said. “If that’s not the case, then you’re probably not going to get as much of a lift as people were expecting.”