Economy

Spectacular Earnings Lift the Market to New Highs

The last week of October is a seasonally strong period, and an early “January effect” appears to be underway.
Spectacular Earnings Lift the Market to New Highs
An employee prepares a package for shipment at the Amazon logistics centre in Suelzetal near Magdeburg, eastern Germany, on Mai 12, 2021. - The US online sales giant had opened the new warehouse in Saxony-Anhalt in August 2020. (Photo by Ronny Hartmann / AFP) Photo by RONNY HARTMANN/AFP via Getty Images
Louis Navellier
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Commentary

This is the best start to an earnings season in four years, according to Bloomberg. So far, earnings are up 9.2% year-over-year, according to FactSet. With 29% of the stocks in the S&P 500 having reported their third-quarter earnings, 87% of reporting companies have delivered a positive earnings surprise, and 83% have reported a positive sales revenue surprise, according to FactSet. As of last Friday, the analyst community is expecting 11% earnings growth for the companies yet to report.

Louis Navellier
Louis Navellier
Author
Louis Navellier is chairman and founder of Navellier & Associates in Reno, Nevada, which manages approximately $1 billion in assets. One of Wall Street’s renowned growth investors, Navellier writes five investment newsletters focused on growth investing. In addition to appearing on Bloomberg, Fox News, and CNBC giving his market outlook and analysis, he has been featured in Barron’s, Forbes, Fortune, Investor’s Business Daily, Money, Smart Money, and The Wall Street Journal.
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