Two Cheers for Earnings Season

It’s a wonder the Trump administration is encouraging companies to release results less often. The first-quarter confessionals now rolling in aren’t just a way for America’s shareholder class to focus on regularly scheduled programming instead of the Middle East—they’re likely to be excellent overall. At the start of the week, S&P 500 earnings-per-share growth was forecast to rise 13.2% year-over-year, according to analyst estimates compiled by FactSet.