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Earnings-Day Price Moves Are the Largest Since ‘09, Goldman Says

Photographer: Michael Nagle/Bloomberg

The average intraday move for S&P 500 stocks after earnings is the highest on record since 2009, according to analysis from Goldman Sachs.

Analysts led by John Marshall said that after 85% of the companies have reported earnings, the most unusual feature of the stock reactions has been the large ranges the stocks have traded in. Marshall highlighted that while the average stock has had an earnings day move of 4.2%, the intraday range has been 6.4%.