May 27, 2018
THE PRODUCTIVITY BOOM:
Corporate America's best report card since 2010 (Matt Egan and Danielle Wiener-Bronner, May 27, 2018, CNN Money)
[A]merican companies are pulling in monster profits right now.A combination of faster economic growth, lower taxes and soaring oil prices are padding the bottom lines of large businesses. Call it the Great American Profit Machine.Not only are S&P 500 profits sitting at all-time highs, but first-quarter earnings are on track to surge by 24.5% -- the fastest pace since 2010, according to FactSet.The blockbuster results even managed to blow away Wall Street's lofty expectations. More than three-quarters of S&P 500 companies -- 78% to be exact -- beat earnings estimates. That's the most since FactSet started tracking the stat in 2008."Companies are absolutely crushing it on earnings," said Anthony Saglimbene, global market strategist at Ameriprise Financial.
Posted by Orrin Judd at May 27, 2018 9:57 AM