S&P 500 Earnings Continue To Shrink - Mike Swanson (11/23/2015)
S&P 500 earnings are shrinking...of course no bubble bulls care... they do not invest using fundamentals or earnings, but on price action, and a move up like last week is causing many to predict the start of another giant stairway to heaven rally...remember last Sunday I said don't worry about Paris attacks, market is oversold so a rallly/bounce coming.. now I'm saying that reality will begin to hit next month.
"Profits from S&P 500 companies have fallen by about $25 billion in the first three quarters of this year, and a further drop is expected before the end of 2015 as energy companies battle with lower oil prices and a sharp rally in the dollar hits exporters.
About 96 percent of S&P 500 companies have reported 3Q results so far, and their aggregate net income from continuing operations for the first three quarters is $804 billion, compared with $828 billion for the first three quarters last year, data compiled by Bloomberg shows.....On a share-weighted basis, S&P 500 profits were down 3.3 percent on year in the third quarter, making this earnings season the worst since 2009, and marking a second consecutive quarter of negative earnings growth."
Full article here.
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