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Strategies & Market Trends : John Pitera's Market Laboratory

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John Pitera

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To: Don Green who wrote (19370)	6/8/2017 8:39:46 PM
From: The Ox	3 Recommendations Read Replies (1) of 33421

From your link, Don: And last but not least, the granddaddy of them all: corporate earnings are growing at the fastest pace in 6 years. After a five-quarter contraction, S&P 500 profit expansion has improved over each of the past three periods.Business Insider / Andy Kiersz, data from Bloomberg Profit expansion has historically been the biggest contributor to share-price appreciation, and it has returned to the S&P 500 with a fury not seen in almost six years. Companies in the benchmark are on pace to see 14% earnings growth for the first quarter of 2017, the most since the third quarter of 2011, according to data compiled by Bloomberg. It marks the third straight quarter of earnings growth for the S&P 500. "It's all about earnings," Citigroup chief US equity strategist Tobias Levkovich worte in a June 2 client note. "The combination of planned tax cuts, light-handed regulation, a repatriation tax holiday on overseas cash and possible infrastructure spending has buoyed hopes for faster economic activity in 2H17 into 2018. However, earnings have been more crucial for stock prices."

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