Hard Economic Data Suggests A Continued Strengthening Of The Economy

S&P 500 1950, 1980 1930 to 2021

Lastly, peak earnings reporting season for the first quarter is upon us. Of the 153 S&P 500 companies that have reported earnings for Q1 2021, 86% have exceeded analyst expectations. In a typical quarter 65% of companies beat expectations. Maybe more significant is the fact the upside earnings surprise factor is 22.3%. The average surprise factor going back to 1994 is only 3.7%. With more state economies opening and vaccination rates increasing, business activity is picking up and this is reflected in recent strong corporate earnings reports.

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