Weekly Market Commentary

SECOND QUARTER EARNINGS RECAP: GOOD, NOT GREAT

Jeffrey Buchbinder, CFA, Chief Equity Strategist, LPL Financial

Second quarter earnings season is in the books, and it was a good one. S&P 500 companies collectively grew earnings at a double-digit pace for the first time in three years. Companies beat estimates at a solid 79% clip. Guidance from company CEOs and CFOs was relatively upbeat. And although some were a bit disappointed by big technology results based on stock reactions, the problem was high expectations more than anything else.

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