Since 2019 began, major indices have soared.

The Dow Jones Industrial Average has run from 23,058 to 26,687.  The NASDAQ has rocketed from 6,506 to 8,114. The Russell 2000 ran from 1,346 to 1,5858.

As for the S&P 500, after running from 2,476 to 2,935, it’s about to close at record highs.

“Among the key companies that have reported, most of them have beaten expectations,” said Peter Cardillo, chief market economist at Spartan Capital Securities., as quoted by CNBC.  “That means we’re probably going to escape an earnings recession. That will be key for the market to rally from here.”

So far, earnings from major companies have managed to top expectations, raising the bar for the S&P 500.  In fact, more than 78% of S&P 500 companies that posted earnings have soared passed analyst expectations.

Top Companies Exceeding Expectations

Coca-Cola (KO), for example posted adjusted EPS of 48 cents, as compared to expectations for 46 cents. GAAP EPS was 38 cents, or eight cents above estimates.  Revenue soared to $8.02 as compared to expectations for $7.9 billion.

Lockheed Martin (LMT) first quarter earnings of $5.99 was up nearly 50% year over year.  And it updated its forecast with full-year revenue forecasts now between $56.8 billion and $58.3 billion – up from $55.8 billion to $57.3 billion.

Even Twitter (TWTR) is soaring.

First quarter adjusted EPS soared to 37 cents, as compared to expectations for 15 cents. Revenue clocked in at $787 million versus estimates for $776.1 million.  Even its monthly active-user (MAU) count jumped to 330 million, as compared to expectations for 318 million.

At this pace, we’re not likely to see that “earnings recession” so many feared.

We’re more likely to set new record highs on the major indices, as the good times roll.