Spectacular Earnings Lift the Market to New Highs

An employee prepares a package for shipment at the Amazon logistics centre in Suelzetal near Magdeburg, eastern Germany, on Mai 12, 2021. – The US online sales giant had opened the new warehouse in Saxony-Anhalt in August 2020. (Photo by Ronny Hartmann / AFP) Photo by RONNY HARTMANN/AFP via Getty ImagesCommentaryThis is the best start to an earnings season in four years, according to Bloomberg. So far, earnings are up 9.2% year-over-year, according to FactSet. With 29% of the stocks in the S&P 500 having reported their third-quarter earnings, 87% of reporting companies have delivered a positive earnings surprise, and 83% have reported a positive sales revenue surprise, according to FactSet. As of last Friday, the analyst community is expecting 11% earnings growth for the companies yet to report.