It is earnings season in the US, and though it is early days with just over 150 counters in the S&P 500 having filed their earnings, there are still some trends and themes worth noting.

The previous earnings season provided some market relief, with positive earnings surprises leading to strong rallies, particularly in tech counters. Markets looked past the “higher for longer” interest rate prospect, which had led to drawdowns earlier in the year. As inflation continues to disappoint, can this earnings season do the same for markets and continue to support valuations?..

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