Non-Tech S&P 500 Companies See Profit Growth, Indicating Market Broadening
Sectors & Industries
August 12, 2024
The long-awaited profit growth in S&P 500 companies outside the "Magnificent Seven" tech giants is somewhat materializing, marking their first increase since Q4 2022.
While earnings show strength, AI-related stocks underperformed lofty expectations, and revenue misses were more common.
Despite this, overall executive optimism remains high, with positive earnings guidance expected for Q3 2024.
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