CHART OF THE DAY: Is Q2 the Earnings Peak?

08/28/18 08:23AM EDT

 Editor's Note: Below is a brief excerpt and chart from today's Early Look written by Hedgeye CEO Keith McCullough. Click here to learn more.

As of last night, 97% of the SP500’s companies have reported yesterday’s news: 

  1. 483 of the SP500’s companies have reported aggregate year-over-year EPS growth of +25.4%
  2. 68 of 71 Tech companies in the SP500 have reported aggregate year-over-year EPS growth of +35.6%
  3. 94 of the NASDAQ 100’s companies have reported aggregate year-over-year EPS growth of +33.5%
  4. All 30 of the Dow’s companies have reported aggregate year-over-year EPS growth of +26.5%
  5. 1876 of the Russell’s companies have reported aggregate year-over-year EPS growth of +33.9% 

Looking back 2 years (Q2 of 2016) when US Tech Earnings growth was NEGATIVE on a year-over-year basis (stocks looked “expensive” back then on the wrong numbers too), do you think the buy side missed something huger than Trump? 

Good news, not everyone missed this move. 

CHART OF THE DAY: Is Q2 the Earnings Peak? - 08.28.18 EL Chart

CHART OF THE DAY: Is Q2 the Earnings Peak? - early look

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