We are in the early innings of the earnings season with just 11% of S&P 500 companies having reported Q4 2022 results. Once again, the energy sector is emerging as the class valedictorian, with the sector’s expected earnings growth of 59.3% for the quarter the highest among the 11 U.S. market sectors, and incomparable to the blended earnings decline for the S&P 500 at -4.6%. Virtually all energy companies that have returned their fourth quarter scorecards have exceeded Wall Street’s expectations. Higher year-over-year oil prices…
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