Why markets trading on earnings matters

US companies are crushing it this year and it’s not just Big Tech. More than 80 per cent of the S&P 500 companies that have reported first-quarter earnings have beaten expectations. Katie Martin and Rob Armstrong discuss the buoyant earnings and how the Middle East conflict could weigh things down. Also, they go short open bars and long muntjacs in the UK.

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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

Read a transcript of this episode on FT.com

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