Barclays reported that 85% of S&P 500 companies exceeded earnings expectations in the second quarter, significantly higher than the long-term average of 76%. Revenue grew by 11.2% year-on-year, and earnings per share surged by 25.1%, driven by large tech stocks. Despite the strong performance, Barclays noted that both earnings beats and misses triggered negative reactions in stock prices. This rare pattern suggests that investors had already priced in most of the positive news.
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