Editor's Note: Below is a brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more about the Early Look.
Seven months into 2017, US growth and profits have accelerated from their 2016 cycle lows. That wasn’t a hard thing to foresee given that major components of the US economy (profits, capex, etc.) were in a recession back then.
On that score, here’s your real-time update on Q2 Earnings Season:
- 294 of 500 S&P companies have reported aggregate year-over-year sales and EPS growth of +6.0% and +10.6% respectively
- 54 of 102 Nasdaq companies have reported aggregate year-over-year sales and EPS growth of +10.7% and +13.6% respectively.
If you bought the Nasdaq 100 right before #ProfitsAccelerating Season started (end of June), you added another +4.0% return in July, taking your US #GrowthAccelerating Sector Allocation (NDX) to +20.9% YTD.
