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