US earnings have not been this strong in 10 years & the latest on Apple and Tesla. Live TV Interview with Jessica Amir on TickerTV

Jessica Amir joined discussion · May 7, 2024 13:07

This US earnings season (with 412 out the S&P500 companies reporting earningsd so far) we've seen some of the biggest companies in the world, those in the S&P500 $S&P 500 Index (.SPX.US)$ beating earnings forecasts by 9% on average.

PLUS The amount of companies beating expectations and the amount that they are beating are both above their 10 year averages.

And forward earnings are also increasing as well - so the future is looking positive, meaning companies don't think we are going into a recession – The consumer is strong and that's good for the economy.

These were some of the points I mentioned today on TickerTV news this morning, which is featured on Apple TV, Samsung TV etc. I aso covered the latest on Apple $Apple (AAPL.US)$ with BNP and Deutsche Bank buying 14 million Apple shares in total overnight again offsetting what Berkshire sold last year. Plus I covered what to expect ahead for Tesla $Tesla (TSLA.US)$ with Elon Musk speaking at the Milken Conference.

US earnings have not been this strong in 10 years & the latest on Apple and Tesla. Live TV Interview with Jessica Amir on TickerTV

Plus we've heard about AI spending and clean, green electrification - and this has been a major and powerful theme for earnings season. Meaning companies are bullish on the future.

The icing on the cake is global economic growth is stronger than expected- the IMF increasing GDP estimates.

Plus - the S&P 500 and the ASX200 once again are sitting pretty for a potential move up supported by softer-than-expected US jobs data, reviving up Fed rate-cut bets. Wall Street' 'fear gauge', the VIX, is now at its lowest level in a month, while the benchmark 10-year Government bond yield also fell back to a month low, and the US dollar also pared back as well.

This mix is good for markets

As we can see below, the most earnings growth has come from Communications and Consumer Discretionary sectors and stocks. With Healthcare, Energery and Materials (miners) seeing the most earnings declines.