High-flying U.S. equities could face turbulence in the final days of a blowout corporate earnings season as investors confront an increasingly tricky backdrop of spiking inflation and rising bond yields.
The benchmark S&P 500 wobbled this week but remains less than 1% below its all-time high, up more than 8% for the year. Strength in earnings has allowed investors to look past negative factors such as higher yields, surging oil prices and the ongoing U.S.-Israeli war with Iran, said Anthony Saglimbene, chief market strategist at Ameriprise, but "company reporting is kind of done now."
