Stocks rocked by 60 minutes

Tuesday, 6 February 2024

The Market Ear assesses the risks to the rally.

1 – More big beats. Less big misses

54% of companies reporting have beat street wide earnings estimates by >1SD. This is significantly higher than historical avg of 48%. Only 10% of companies have missed estimates by >1SD (less than historical avg of 13%).

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.