Earnings season is well within its stride. So far, of the 287 companies that have reported so far 87% of these companies have beaten earnings estimates by a median of 15%. We’ll elaborate on which sectors stand out below.

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The S&P 500 closed at 4,181.17 which was exactly one point higher than it closed last week. It is the third week in a row that the market is essentially flat. However, the leadership of defensive names seemed to be broken. Despite some weakness on Friday, the 5D gains were led by Energy and Financials. There has been a lot of strong earnings across diverse sectors. Many Epicenter names like Cleveland Cliffs ($CLF) and Harley-Davidson ($HOG) have shown how Epicenter stocks can surprise dramatically to the upside. You may have noticed that despite record earnings at the best of the FAANGs, prices didn’t move all that much.

However, on Friday Energy led the losses losing 2.53% on the day. Despite eight sectors being negative, the volume wasn’t very strong. Even though the market shrugged off the earnings of the oil majors, we saw a lot of strength there. Exxon Mobil had its first profitable quarter after four in the red. Chevron also noted that it could maintain 10% FCF growth at $50 Brent.

What would happen to Energy companies at $80 brent?...

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