Summary

• With the rapid growth in S&P 500 earnings since January 1, ’26, there has been a lot of new earnings commentary on the wires.
• S&P 500 earnings data will not call a market top.
• The big issue with Q1 ’26 S&P 500 earnings that the various sources are not reporting is the one-time gains in Google’s and Amazon’s earnings from the sale of both those companies' respective investment positions in Anthropic.

With the rapid growth in S&P 500 earnings since January 1, ’26, there has been a lot of new earnings commentary on the wires.

Ed Yardeni has been the dean of S&P 500 earnings commentary

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