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 Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

After a decade of waiting for Godot on wage growth, we’re finally at a point in the domestic business cycle where the relationship between labor and profits starts to matter, big time. In the presentation, we’ll detail the downside risks to the consensus 4Q19E/2020E EPS recovery narrative. 

CHART OF THE DAY: Earnings Season Catalyst  - Chart of the Day

CHART OF THE DAY: Earnings Season Catalyst  - early look