The trend of better-than-expected earnings will be put to the test in the coming week when investors hope Apple (AAPL.O) can exceed already high expectations for the tech giant and Facebook (FB.O) reports its first quarterly earnings.
Apple accounts for a significant proportion of the overall earnings of Standard & Poor’s 500 .SPX components. S&P 500 earnings are expected to show a rise of 5.7 percent in the second quarter from a year ago. Excluding the maker of the iPad, the rise is 4.8 percent, according to Thomson Reuters data.
Apple’s results, due Tuesday, could help stocks build on this week’s gains and counter investor worries over the euro zone crisis. More signs of financial stress in Spain on Friday caused stocks to give back some of the week’s increase. The S&P 500 ended 0.4 percent higher for the week.
(Reporting By Caroline Valetkevitch; Editing by Kenneth Barry)
Read More: Reuters