earnings

I am back from the 4th of July weekend here in the US. I have a few new thoughts to share with you today. But, my overall macro view remains the same - namely that the US has recovered from recession but downside risks to the US economy and…

I woke up in the middle of last night. And I checked my phone really quickly. I know I shouldn't do it. Studies say it's bad sleep hygiene. But I couldn't help myself. I was on edge about all of the market volatility and I needed to know…

We are now getting the first data points which will inform the increasing disconnect between a rebound in shares and the freefall in the real economy. And, after yesterday's rally in share prices, we are seeing a risk-off tone to the market…

Earnings were boosted by corporate tax cuts in the past year. And earnings growth has been buoyed by significant corporate releveraging. But 2019 is looking challenging for companies now and the chart below shows you why. While earnings…

I will continue my 2019 outlook pieces in the coming days. But we've seen a lot of data out today. I think what we're seeing will have a bearing on rate policy, especially given what's happening in the bond market, something I discussed…

German and Japanese auto manufacturers succeed despite sticking to a high-wage model.

I have six sections in todays's newsletter: markets, macro, micro, the US, the UK, and China. So there's a lot of news flow, most of it negative unfortunately. The key piece in the mix of all of this is the 4.2% update to the GDPNow…

Some figures on the Q2 2018 earnings season

Investors loved Tesla's earnings report. But there was a hidden message in the earnings call about Tesla's future.

It was a good quarter from Apple. But earnings growth was flattered by stock buybacks. There are a lot of growth opportunities though.