"S&P 500 futures were down 0.36% this morning. The index rose 0.19% yesterday to a new record high of 7,412.84. In Europe, the Stoxx 600 was down 0.77% in early trading and the U.K.'s FTSE 100 was down 0.54% before lunch. Asia: South Korea's KOSPI lost 2.29%. Japan's Nikkei 225 was up 0.52%. India's Nifty 50 declined 1.92%. China's CSI 300 was flat. Brent crude was $107 a barrel this morning, up from a low of $102 yesterday."
"Why does the S&P 500 keep hitting new highs even though the world is at war and oil is above $100 per barrel? To misquote former U.K. Prime Minister Harold Macmillan, "Results, dear boy, results." The index has delivered a blockbuster set of Q1 earnings. With 86% of companies reporting, "64% of companies beat both EPS and sales expectations, nearly 20 percentage points ahead of the historical average of 42% since 2001," according to Savita Subramanian of Bank of America. The "1Q26 earnings season has blown past expectations," she said in a note."
"It was the sixth straight quarter in which the index has delivered EPS gains of 5% or more, according to Ohsung Kwon and his colleagues at Wells Fargo. U.K.'s Starmer clings on despite rebellion aimed at forcing him out. In a fast-moving situation that is changing by the minute, U.K. Prime Minister Keir Starmer this morning said he would face down a rebellion from his own members of parliament and stay on in No.10 Downing Street. More than 70 of his Labour party MPs have demanded he leave office, after their party lost nearly 1,500 seats in local elections l"
S&P 500 futures fell slightly while the S&P 500 rose to a new record high after strong Q1 results. European and several Asian markets were lower, while Japan’s Nikkei gained. Brent crude traded above $100 per barrel. The S&P 500’s momentum came from a large share of companies reporting beats on both earnings per share and sales, with results ahead of historical averages. The index also posted EPS gains of at least 5% for six consecutive quarters. In the U.K., Prime Minister Keir Starmer said he would remain in office despite a rebellion led by Labour MPs after major losses in local elections.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]