If the first bite is like the rest of the dish, then US companies will take the lead role in this earnings season and their numbers will extend the Dow's early-quarter gains. Although only 30% of the biggest 500 companies in the United States have posted their earnings at this point, this first view leaves a good taste in the mouth. 80% of the results presented beat investment bank expectations.
"Earnings results in the United States are pretty good. The number of positive surprises is more than average compared to the past few quarters and, most important, way above last quarter's figures," said Félix González from Capitalia Familiar. "In the fourth quarter of 2011 this ratio was at 68%," was said in Consulnor.
Apple applied the finishing touch. After markets closed on Tuesday, the US tech company led by Tim Cook published its first quarter results. Against many predictions, it beat many estimations with aplomb. In fact, it is one of the top five performers on the Nasdaq 100. Thanks to that achievement, its shares soared 9% by midday and were praised by analysts.
Tech is the star
The technology sector is one of the brightest stars of the start of this earnings season in the United States. Yesterday the Nasdaq 100 put up good numbers and had one of its most bullish days of 2012 with gains of more than 2% at midday. The rest of the main US stock indexes also posted gains, despite the fact that during the trading day bad raw materials data was published. The demand for raw materials dropped 4.5%, which is "nearly three times more than was expected. It is the biggest drop since January 2009," said José Martínez Campuzano, a strategist from Citi in Spain.
