Stocks Surge On Healthy Earnings Season, Rising Jobless Claims: This Week In The Markets
It’s been a quiet week in the markets, marked by a dearth of major economic news and a consistent flow of positive indicators from the first-quarter earnings season.
As of May 7, 424 companies in the S&P 500 have disclosed their earnings, with 78% surpassing earnings expectations and 61% exceeding revenue forecasts.
The S&P 500 continued its upward trend, marking its third consecutive week of gains and nearly recouping losses from April, while the Dow Jones boasted eight consecutive sessions in the green.
Notably, the utilities sector, as tracked by the Utilities Select Sector SPDR Fund (NYSE:XLU), has emerged as the star performer of 2024, outstripping energy and doubling the tech sector’s performance, with some analysts attributing the outperformance to heightened …
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