Earnings Season Kicks Off with Strong Beats Despite Macro Uncertainty

Earnings season off to strong start with S&P 500 companies beating expectations by 9% on EPS.

After two quarters of declines, EPS for S&P 500 companies is up 1% compared to last year, signaling end of earnings recession.

Macro uncertainty around inflation and rates impacting corporate demand and spending.

EPS beats driving stock action more than macro headwinds (e.g. JPMorgan).

S&P 500 up nearly 1% since earnings season kicked off despite grim economic outlook.