Morning Report: Earnings season is off to the best start in a decade

Earnings season is off to a great start. Results are in for 30 of the S&P 500 companies. Within the 10 percent of the index that have reported, 90% have trounced earnings estimates. This surprising result marks the best first week of a reporting period going back to at least 2012. Although it’s still early in earnings season, JPMorgan Chase, Wells Fargo, and Citi all were better than expected.

Engaged couples issue verdict on Bed Bath & Beyond. They don’t think it will survive. Since January, several thousand couples have removed Bed Bath & Beyond items from their wedding registries on Zola, an online wedding services platform. That represents a decline of more than 50 percent versus registries for nuptials that were held last year.

The S&P 500 closed higher Monday to kick off a busy earnings week.
All three major indexes closed higher.

Florida Governor, Ron Desantis threatens to build a state prison next to Disney World as the fight between the two continues. He threatened to build a state prison and said the legislature would impose new ride inspections. Disney drew the ire of  Desantis after a public announcement that the company would work to repeal the Parental Rights in Education Act.

McDonald’s is looking to boost sales by improving its classic menu items. They’re looking to bring softer buns, gooier cheese, more onions, and more sauce to items like the Big Mac and Double Cheeseburger. Company execs say small changes can result in big improvements in sales.