MarketWatch (August 10)
“The S&P 500’s earnings story is getting stronger and broader, and that’s good news for the stock market — particularly for shares of industrial, financial and technology firms.” With earnings already reported by 80% of S&P 500 constituents, “it is safe to say that this earnings season is on track to be a blowout.” What’s more, “nontech companies are leading tech with a higher margin of earnings outperformance relative to expectations. Nontech companies have topped estimates by about 10%,” while the Magnificent Seven and other tech companies are averaging a 4% beat rate.
Tags: Blowout, Broader, Earnings, Expectations, Financial, Industrial, Nontech, Outperformance, S&P 500, Shares, Stock market, Stronger, Technology
Bloomberg (October 7)
“The ‘no landing’ scenario–a situation where the US economy keeps growing, inflation reignites and the Federal Reserve has little room to cut interest rates–had largely disappeared as a bond-market talking point in recent months.” After “setting up for slowing growth,” traders are undergoing another “wrenching recalibration” on the heels of a “blowout” jobs report “showing the fastest job growth in six months, a surprising drop in US unemployment and higher wages.” Treasury yields surged and investors are “furiously reversing course on bets for a larger-than-normal half-point interest-rate reduction.”
Tags: Blowout, Bond market, Economy, Fed, Growing, Inflation, Interest rates, Jobs, No landing, Recalibration, Scenario, Traders, Treasury yields, U.S., Unemployment, Wages
Wall Street Journal (October 10)
“The past week was bizarre, berserk, almost biblical.” People are thirsty for normal. “There’s a lot of Trump fatigue, and it’s peaking at the wrong time for the president.” Increasingly pundits “are wondering if Nov. 3 won’t be a win for Joe Biden but a blowout, a landslide in a polarized country that doesn’t produce landslides anymore.” If Biden does win big, “part of the reason, maybe a big part, will be simply that he is normal.”
Tags: Berserk, Biblical, Biden, Bizarre, Blowout, Landslide, Normal, Polarized, Pundits, Trump fatigue
