With many companies reporting earnings, the headline earnings decline moderated. The S&P 500 rose by 1% for the week. This week will be the busiest of this earnings season, with 170 companies reporting, including Berkshire Hathaway
BRK.B
At the halfway point in the reporting season, blended earnings, which combine actual with estimates of companies yet to report, remain worse than forecasts at the end of the quarter. The consumer discretionary sector is expected to post the highest year-over-year growth rate at 36.1%. This increase is primarily due to Amazon.com (AMZN), which had a loss in the second quarter of 2022 but is expected to report a profit for the same period this year.
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