Thursday looked like a day of indecision until the early afternoon, when President Trump (again) called off strikes on Iran and said the U.S. will soon sign a deal with that country. Markets went ballistic, with crude oil tanking, Treasury bonds ripping, and stocks exploding. After about 40 headlines that a deal was close, the markets responded like the war in the Middle East is over and the Strait of Hormuz is open.

The first-quarter earnings season has been sensational. Many companies knocked it out of the park when delivering earnings and revenue numbers that well beyond expectations. With reports now in from about 96% of S&P 500 companies, earnings have climbed a staggering 29% from last quarter. Information Technology, up 56%, and Communication Services, up 51%, have led the pack. At the bottom are Healthcare, down 3%, and Energy, down 1%. With earnings season essentially over, we have had a chance to look at trends. In particular, we watch for companies that raised guidance as we view that action as a likely catalyst for market-beating returns in the quarters ahead. It's even harder for companies to raise guidance during uncertain economic times, as vision is murky. The following is a partial list of companies in Argus' Fundamental Universe of Coverage where management raised its outlook during the 1Q26 reporting season.

Howmet Aerospace Inc. provides advanced engineered solutions for the aerospace and transportation industries. It offers jet engine components, aerospace fastening systems, and titanium structural parts for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. Based in Pittsburg, PA, the company has approximately 23,200 employees. The shares are a component of the S&P 500.

The major indices are mixed but trending lower at midday on Monday. Bond yields continue to move up after the higher-than-expected inflation numbers from last week. Oil remains above the $100 level, the yield on the 10-year note is at 4.60%, and the VIX volatility index is creeping higher at 19 -- but is still below the historical average of 20.