That beat rate is below a three-year average of 79%, according to data from The Earnings Scout.
Of those companies, 69% have beaten earnings expectations. Roughly three-quarters of S&P 500 companies have posted their latest results. Zillow, Shopify and DoorDash are some of the companies schedule to report this week. Investors will also continue to watch earnings results.
Later in the week, traders will be listening to speeches from Fed officials for any signs of what the central bank may do at its next meeting in March. The January consumer price index report came slightly above economists' estimates, indicating a potentially longer path in the Fed's fight against rising prices. Wednesday's retail sales data comes a day after the latest U.S. "The Fed is going to need to raise rates higher – and hold them higher for longer – than people currently expect and this is going to cause markets to go through some significant volatility as stock and bond markets are priced for benign scenarios and not the more difficult one that we are headed towards." "The labor market's resilience is the main reason consumers continue to spend and as long as that's the case, inflation is likely to remain sticky," said Chris Zaccarelli, chief investment officer for Independent Advisor Alliance in a Wednesday note. economy is holding up despite increased rate hikes by the Federal Reserve to tame inflation. Stocks slipped earlier in the day when a report showed January retail sales rose 3%, while economists polled by Dow Jones anticipated a 1.9% increase.
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