Making sense of the markets this week, October 24, 2021 Oct 22nd

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Making sense of the markets this week, October 24, 2021

– moneysense.ca

Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.

The U.S. earnings beat just keeps coming

For week one of the earnings season, 41 S&P 500 companies reported their third-quarter results, and 80% beat earnings expectations, according to FactSet. While reports have been strong, investors are looking for commentary from corporate America about supply chain issues and inflation.

Last week’s earnings season was just the spark the markets needed, after giving back the gains of the Summer of 2021.

And moving through the week ending October 24, that beat record ticks up to 84%.

Of S&P companies that have reported Q3 results, 84% posted earnings that topped expectations, close to a record high. But beats were mostly shrugged off by stock traders, and misses got punished by the widest margin since Bloomberg started tracking the data in 2017. @lena_popina— Lisa Abramowicz (@lisaabramowicz1) October 21, 2021

The S&P 500 (IVV) closed up for several sessions into this week, coming within a hair of a new all-time high…

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