Wall St Week Ahead Investors eager for earnings amid growth concerns
NEW YORK, July 9 (Reuters) – Investors are looking to U.S. companies’ upcoming quarterly results and forecasts about the recovery in the second half of 2021 as some worry that the recent economic surge is already waning.
U.S. Treasuries rallied sharply this week on fears that economic growth may slow in the second half, pushing yields to levels not seen since February. On the stock market, there was a selloff in financials, energy and other so-called value shares tied to the recovery.
A massive jump in second quarter earnings is expected to mark a peak for U.S. earnings growth and the recovery from last year’s pandemic-induced profit collapse. S&P 500 earnings are estimated to have surged 65.8% from a year earlier, according to IBES data from Refinitiv.
That’s on track to be the biggest percentage growth since the fourth quarter of 2009 following the Great Financial Crisis, according to…