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Weekly Market Comment – April 23rd 2019

Markets moved sideways last week on relatively low volumes traded. The earnings season kicked off last week with 15% of companies in the S&P 500 reporting numbers. First quarter earnings expectations in the US had been revised down 10% since September and 7% since the beginning of 2019 so it was no real surprise that we have seen 78% of S&P 500 companies so far reporting a positive EPS surprise and 53% have reported a positive revenue surprise.  The lack of volatility in markets as of late has been surprising, it remains to be seen whether this will continue through the rest of earnings season.

 

– Niall Dineen

Investment Team Leader