The S&P 500 futures are buoyed by strong earnings reports as the fourth-quarter reporting season unfolds. According to BofA Global Research, U.S. investment-grade issuers have demonstrated a +14.2% y/y earnings growth, excluding the Energy and Finance sectors. This robust performance has been driven by sectors such as Technology, Banks, and Health Care, with earnings exceeding expectations by +5.5%. These positive surprises highlight the resilience of U.S. corporates, even as they navigate a challenging economic environment. Revenue surprises also contributed to the optimistic outlook, coming in at +0.9%, surpassing the previous quarter's figures.
The iShares Core S&P 500 ETF (IVV) closed at $607.17, marking a 0.41% increase from the previous close of $604.69, and currently stands at $607.30 as of 16:40 on Wednesday, February 5.