First quarter earnings season turned out much better than expected. Almost all companies in the S&P 500 reported financial results, which grew by a tenth of a percentage point year-over-year. That’s much better than the 4.7 percent decline analysts anticipated, according to FactSet. At the same time, the economic data seen in recent months has remained weak. Steve Freedman, senior investment strategist at UBS, speaks with TheStreet’s Scott Gamm on why corporate earnings eclipsed forecasts during the first quarter and what strong earnings with sluggish economic data means for investors.
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