Market Watch: July 16
Big Picture
Equities mixed heading into earnings season
There was plenty for Market Watchers to digest this week including Q2 earnings releases, central bank news and economic data.
In the U.S., analysts project profits for S&P 500 companies to rise 64 per cent in Q2 from a year earlier – the fastest rate of growth in more than a decade – according to FactSet. In Europe, Q2 earnings are expected to be even stronger with the 600 biggest listed companies expected to surge 110 per cent yoy for the April to June quarter according to Refinitiv IBES data. As impressive as the projections are, the measures come from a year ago period when both economies were brought to a standstill due to COVID.