As more than 300 companies out of the S&P 500 have reported by last Friday we thought it no harm to review progress and avail of excellent work done by Zacks on 334 results so far. The table below captures most of the key numbers and a full Zacks analysis is available here. For the less patient our nippy take is below the table:
So, here’s what we are seeing:
1. Total earnings “beats’ fine for aggregate 11.4% growth.
2. Total reported revenues barely moving up – just 0.1%.
3. However, strip out financials in re-trench mode and revenues are up 2.3%. Not gang-busters but puts Treasury yields in perspective.
4. The stand-out growth failures on revenues are the massive oil/energy and financials sectors which suggests the rest of the market is chugging along ok.
No huge surprises for WealthiFi readers here. The wizard’s reflation plan is still intact.
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