Making Sense of the Evolving Earnings Picture

Excluding the Energy sector's upward revisions, aggregate Q2 earnings estimates for the rest of the S&P 500 remain positive versus the start of April. The update suggests broad-based estimate resilience and improving earnings expectations outside Energy. Market impact should be limited, but the reading is supportive for near-term earnings sentiment.

Analysis

Excluding the Energy sector's upward revisions, aggregate Q2 earnings estimates for the rest of the S&P 500 remain positive versus the start of April. The update suggests broad-based estimate resilience and improving earnings expectations outside Energy. Market impact should be limited, but the reading is supportive for near-term earnings sentiment.