Renewed concerns about stagnant economic growth in the U.S. and Europe’s sovereign debt crisis have plagued stock markets of late and outweighed generally good earnings results for companies in the second quarter. Amid this volatility news of the "winners" and"losers" has faded into insignificance. Nevertheless, with 80% of the companies in the S&P500 having reported Peter Garnry, equity strategist, Saxo Bank takes a look at their performance while also giving some insight into the somewhat crazy market situation right now. He also identifies sectors which have done well and compares U.S. company results to European counterparts, which on the back of weaker outlooks could provide interesting investment opportunities.

See more of Peter's market commentary here on TradingFloor.com