07/26/24 07:40 AM EDT

CHART OF THE DAY: Russell Recession

Below is our "Chart of the Day" and a brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough.

One of the Top 3 Reasons Why The Russell 2000 has been a bag-holder’s dog since the US Cycle Peaked in Q4 of 2021 has been its Earnings Depression. To be fair, for Q1 2024 to-date, it’s moved out of a depression into a recession!

A) 350 of the Russell 2000’s companies have reported an aggregate Q124 year-over-year EPS recession of -17.7%
B) You’d need to be up another +10% (from here) to get back to breakeven in the Russell (vs. 2021’s highs)

CHART OF THE DAY: Russell Recession

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Cartoon of the Day

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Cartoon of the Day: Head In the Clouds

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