- 72% of companies that have reported earnings issued negative guidance, which is higher than the 5-year average.
- Revenues have fallen for two back-to-back quarters, indicating a bearish signal for US stocks.
- The Fed is propping up stocks right now based on speculation of a rate hike that is looking more and more unlikely next month.
The broader indices continue to tread water at or near all-time highs despite unconvincing mixed economic data and crises in both Europe and China. While the Greek debt issue seems to have come back under control, the collapse in the Chinese stock market has yet to bleed over into domestic markets. Yet the threat of a possible loss has not seemed to faze stocks…
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