A total of 1,370 companies have now reported their second quarter earnings numbers this season.  Below is a look at how stock prices have responded to these reports by sector.  We took every stock that has reported this season and grouped them by sector.  We then calculated the one-day % change that each stock experienced on its earnings reaction day (the first trading day following the report) and then took the average for each sector.  As shown below, for all stocks that have reported earnings this season, the average one-day change in response was a gain of +0.71%.  So the average stock that has reported has gained more than two-thirds of a percent on its earnings reaction day.

As shown, though, some sectors are doing much better than the overall average, while some are doing much worse.  Stocks in the Consumer Staples sector that have reported this season have gained an average of 1.74% on their earnings reaction days.  Technology and Materials stocks are both averaging gains of more than 1% on earnings as well.

The one sector that is not taking part in the earnings gains is Energy.  Energy stocks that have reported earnings this season have actually averaged a one-day decline of 0.48% on their reaction days.  Talk about kicking a sector when it’s down.  Can it get any worse for Energy?

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