Market Comment May 2021 - A New Season - Let's not spoil the party!
First-quarter earnings season is in full swing and the news is very good. So far, expectations of a swift and impressive rebound from the pandemic have been amply fulfilled. For the roughly 50 % of companies in the S&P 500 that have reported their first-quarter results, this is shaping up to be a lavish earnings season. Earnings per share is on course to be up 33.8 % from the first quarter of last year, the highest annual increase in a decade. This would owe much to th