Heading into the last reporting period, the consensus earnings estimate for the fourth quarter came down quite a bit, falling 6.8% between October and December. That low bar helped drive a solid average upside surprise of nearly 5% for S&P 500 constituents. The picture is different this quarter, with just a 2.5% cut to Q1 numbers from January through March, so the bar isn’t as low.
Click the link to read more: Weekly_Market_Commentary 4-8