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After last week’s shortened trading period due to the Good Friday/Easter holiday, investors were eager to get back at it this week. On their minds was one thing: earnings. The so-called earnings season was in full swing this week and traders have been looking at the results to gauge the state of the economy. Many analysts were anticipating that earnings growth will decline this quarter. But, so far, this week, the results have been more on the positive side.
Several bellwethers have continued to report better-than-expected earnings. Perhaps more importantly, guidance figures have also been great. This has given investors a new outlook that the economy isn’t plunging into recession or slowing down anytime soon. It hasn’t all been rosy, but most firms have seen some pretty positive results.
Data this week seemed to back this idea. While there wasn’t much released, what was announced fared on the bullish side.
With a lack of geopolitical events, traders managed to bid the broader markets towards all-time highs in the early half of the week, only to see some of those gains slip away as a few bellwethers suffered.
Be sure to check out our previous Wrap here, when healthcare hurt the market.