"So far so good"
While only 15% of the S&P’s market cap has reported Q4 earnings, some 60% of companies have beaten street consensus by at least 1SD vs the historical average of 46%. Still, as Goldman trader John Flood notes, the bar is indeed higher this quarter with street consensus at 8% for S&P 500 YoY eps growth, up from the prior quarter consensus of 3%, although the actual EPS growth was 8%. This week 41% of S&P’s market cap reports including META & MSFT on Wednesday and AAPL on Thursday.
