Wall Street’s optimism has held strong despite recent tariffs being reinstated. Analysts have revised third-quarter profit estimates higher, showing a 0.1% increase in earnings-per-share estimates for S&P 500 companies through July. This uptick is notable given that profit estimates are typically reduced over time.
With second-quarter earnings already reported by about two-thirds of S&P 500 companies, the results so far show that 82% have exceeded profit expectations. These positive earnings reports suggest that consumers may not be as affected by tariffs and high prices as expected. As a result, investors remain optimistic about the market’s prospects despite these challenges.
Source: https://www.marketwatch.com/story/its-a-pivotal-week-for-earningswhat-they-reveal-about-tariffs-and-the-resilience-of-u-s-consumers-9d4cc62c