US Stocks Amped Up by Big Tech, Better-Than-Expected Earnings
- More than three-quarters of S&P 500 firms surprised to upside
- Nvidia, layoffs and guidance were key themes this season
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This earnings season gave investors ample reasons to pour money into stocks even as traders grow increasingly wary about the economy and the timing of the Federal Reserve’s interest-rate cuts.
Results for the final quarter of 2023 signaled continued corporate strength despite the angst. Balance sheets held up, Big Tech darlings powered on and operating margins were steady as companies slashed costs. All told, Corporate America ended the year on a surprisingly strong note.