Strong earnings reports from buzzy tech companies like Amazon and Microsoft have dominated headlines, but the numbers for the broader market remain negative.
What's happening: With 45% of S&P 500 having reported earnings, FactSet estimates an overall earnings decline of 0.3% for the quarter.
- That's smaller than the 1.8% decline its analysis showed during the previous week.
By the numbers: The percentage of companies that have reported actual EPS above estimates is 69%, below the five-year average.
- In aggregate, companies are reporting earnings that are 4.1% above the estimates, which is also below the five-year average.
- 65% of companies have reported actual sales above estimates, which is higher than the five-year average.
Between the lines: IT and consumer discretionary companies have delivered the greatest positive earnings surprises, offsetting weakness in the industrials sector.
Go deeper: UBS issues a warning on earnings
