US quarterly earnings to feature big growth in tech-related companies
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Big technology-related company earnings are expected to lead S&P 500 profit growth in the upcoming US reporting period. Analysts expect S&P 500 companies to report earnings increased 5% in Q1 2024 from a year earlier. Earnings from some big US banks start the reporting period, followed by results from Netflix, Procter & Gamble, UnitedHealth, and Travelers Cos. Earnings for the communication services sector are forecast to have risen 26.7% from a year ago, while the technology sector is expected to have climbed 20.9% in Q1. Investors remain optimistic about artificial intelligence, with the Nasdaq reaching a record high close in late February. The S&P 500 is up roughly 9% year to date but down about 1% so far for April. The US Labor Department reported strong consumer price readings, leading some investors to believe the Fed might delay cutting rates until September. Energy, materials, and healthcare sectors are expected to have had the biggest declines in earnings year-over-year in Q1. Profit growth for all of 2024 is seen at 9.8%.

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https://m.economictimes.com/markets/stocks/news/us-quarterly-earnings-to-feature-big-growth-in-tech-related-companies/articleshow/109231363.cms