But those inflated numbers came on the heels of a nasty recession, which knocked earnings down to depressed levels. But the stellar earnings are landing just as economic news has revived fears of higher inflation and interest rates, creating a tug of war on Wall Street. Thursday's market action is a prime example. For every analyst lowering estimates, more than three analysts are raising theirs.
Negative surprises are down.
In 2001, the picture is cloudier. But analysts say making those numbers could be tough if the Federal Reserve continues raising interest rates and slows the economy.