Looking at earnings data for quarter 3 from the US, which drives sentiment and provides insight:
78% of the S&P 500 companies that have reported results have reported positive earnings surprises
Earnings are on average 6.8% higher than estimates, above the 5-year average
61% of the companies that have reported sales have reported sales surprises.
Analyst are being conservative in their forecasts, and we’re seeing consistent earnings surprises each quarter.
Look at our ideas below for what you should be accumulating at the moment.