Goldman’s Kostin Says US Results Season Better Than Feared
- Stocks’ historical volatility could fall even in recession: GS
- MS’s Wilson expects rally to fizzle out amid earnings cuts
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With the busiest week of the second-quarter earnings season over, investors are relieved that results are holding up better than feared, according to Goldman Sachs Group Inc. strategists.
Of the 56% of S&P 500 companies that have reported earnings so far, more than half have beaten analyst estimates -- above the long-term average of 47%, strategists led by David J. Kostin wrote in a note dated July 29. That, combined with “dovish messaging” from the Federal Reserve, has provided a boost to equities, they said.