04:25 PM EST, 03/03/2025 (MT Newswires) -- S&P 500 companies' latest quarterly results showed an acceleration in growth rates of both earnings and sales, compared with financials reported until a week ago, Oppenheimer Asset Management said Monday.

With roughly 97% of the companies in the benchmark equity index having reported, earnings have jumped about 13% from a year earlier, while revenue grew 5.4%. The brokerage's previous report released last Monday showed a roughly 12% gain in earnings and a 4.9% increase in revenue, based on financials of 86% of companies.

Ahead of the reporting season's start, Bloomberg put analysts' projected earnings growth at 7.3% year over year, according to the report.

Among sectors, consumer discretionary's earnings growth has been the strongest for the quarter, surging almost 27%, followed by communication services' 26% surge. Energy posted the steepest decline of 26%, with industrials being the only other laggard, according to the report.

In terms of sales, the technology sector led with a nearly 12% year-over-year gain, followed by real estate at 9.2%. Energy, industrials and materials posted drops, Oppenheimer said.

Some 10 companies are expected to post results this week, according to the report.

In the first two months of this year, US equity and fixed income markets have seen a rise in volatility amid potential risks from "political transitioning and potential trade tariffs stateside and around the world," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.

Foreign equity markets have outperformed their US counterparts during this period, according to Stoltzfus.

"Stateside stocks have seen the performance leadership and trajectory of the technology sector come into question as other sectors gain the attention of investors and traders in a broadening of the stock market rally that began in the fourth quarter of 2022," he wrote.

So far this year, Nvidia ( NVDA ) stock has retreated nearly 18%, while Apple ( AAPL ) has lost 5%. Microsoft ( MSFT ) has shed 7.8%.