Lacking official U.S. economic data, corporate results are more important

Lacking official U.S. economic data, corporate results are more important

The U.S. earnings season is now in full swing, with nearly one-third of S&P 500 companies reporting last week. In the absence of much official U.S. data, corporate results and management commentary have become even more valuable in gauging the health of the economy. So far, earnings have exceeded expectations, with companies surpassing analysts’ estimates at rates above five- and ten-year averages.