Episode
A Sleepy Start to Earnings, Small Cap P/Es Surge
- Podcast
- RBC's Markets in Motion
- Published
- Jan 23, 2026
- Duration seconds
- 458
- Processing state
not_requested- Canonical source
- https://www.rbccm.com/en/insights/markets-in-motion.page
Actions
POST https://stenobird.com/v1/public/podcasts/rbc-s-markets-in-motion-617578/episodes/a-sleepy-start-to-earnings-small-cap-p-es-surge/transcription-requests
Idempotently request low-priority transcript generation for this episode.GET https://stenobird.com/podcast/rbc-s-markets-in-motion-617578/a-sleepy-start-to-earnings-small-cap-p-es-surge.md
Read the agent-friendly Markdown representation of this episode resource.
Summary
The big things you need to know: First, the various earnings stats we track point to a sleepy start to reporting season, suggesting to us that geopolitics hasn’t been the only thing contributing to the US equity market’s recent gyrations. These stats also highlight how the mega cap growth trade has seen its dominance on the earnings front erode in some ways, helping fuel the rotation trade to Value and Small Caps. Second, our review of this past week’s earnings call commentary suggests that views of the macro have been mixed, with geopolitical concerns and consumer pressures noted, but tariffs described as manageable. Third, things that jump out from our other updates include the rise in the Russell 2000’s P/Es which are approaching 2024 highs