Editor's Note: The chart and excerpt below are from this morning's Early Look written by U.S. Macro Analyst Christian Drake. Click here for info on how you can become a subscriber.
...With ~91% of SPX constituent companies having reported earnings for 2Q, the results have been less than inspiring – particularly for a private sector economy purportedly in position for an escape-velocity handoff from the Fed.
...As can be seen in the Chart of the Day below, lackluster beat-miss trends have not been buttressed by positive operating performance which has, once again, been underwhelming with just 38% and 43% of companies registering sequential acceleration in sales and earnings growth, respectively.
