So far, with one week in, companies are beating earnings estimates by a wide margin of more than 84%, according to Refinitiv.
This three-month period is the first to be compared to year earlier profits that were affected by the pandemic. Profit growth for the S&P 500 is a stunning 30.2% for the quarter so far, based on actual reports and estimates.
That makes it the best three-month period since the third quarter of 2010, according to FactSet.
Signs of margin pressures?
The S&P 500 ended the week at a record high of 4,185, a gain of 1.4%. The Dow, higher for a fourth week, gained 1.2 to end the week at a record 34,200. Nasdaq gained 1.1% for the week, finishing at 14,052.
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