More than 90 percent of the companies in the Standard & Poor's 500 index have reported their latest quarterly results. Based on results so far, financial analysts expect overall earnings growth of 5 percent in the first three months of this year, compared with the first quarter of last year.
Earnings projections have risen steadily over the last few weeks, according to S&P Capital IQ. At the beginning of April analysts expected growth of less than 1 percent.
Even though expectations have been rising, when all the results are in, first-quarter earnings growth is likely to remain below the 7.7 percent growth posted in the fourth quarter of last year.Associated Press