CHART OF THE DAY: Durable Goods

04/27/21 07:55AM EDT

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

On The ROC (rate of change) of the economic data, check out this chart of the day on Durable Goods for MAR:

A) US Durable Goods ramped to +25.0% year-over-year growth in MAR vs. +3.5% y/y in FEB
B) US CAPEX continued to #accelerate to +11.6% y/y growth in MAR vs. +9.2% y/y in FEB

Yes, these ROC numbers were released yesterday. And, yes, they are backward looking numbers that anyone who is long of core #Quad2 Sector Styles like Industrials (XLI) and Basic Materials (XLB) is well aware of.

Are their portfolio returns “transitory”?

Or are these “data points” all part of the numbers ultimately driving the narrative on why US Earnings already #accelerated to +45.7% year-over-year aggregate growth for Q121 EPS season to-date?

CHART OF THE DAY: Durable Goods - 4 27 2021 7 46 40 AM

© 2024 Hedgeye Risk Management, LLC. The information contained herein is the property of Hedgeye, which reserves all rights thereto. Redistribution of any part of this information is prohibited without the express written consent of Hedgeye. Hedgeye is not responsible for any errors in or omissions to this information, or for any consequences that may result from the use of this information.