萧天策

#SP500EarningsBeatExpectations The S&P 500 earnings story is getting harder to fade. ~86% of reporting companies are beating EPS estimates, versus a 5-year average of 78%. But the real signal isn’t the beat rate—it’s the magnitude. Q2 blended earnings growth is running near 50%, far above the ~23% growth expected at quarter-end. That means analysts are chasing the data higher, not the other way around. AI is clearly leading the cycle, but strength is broadening across industrials, energy, financials and communication services. The key risk? Valuations remain elevated. Still, when earnings rise faster than prices, the market can grow into its multiple.😎 $SPYB $SPCXB