Taps Coogan – May 5th, 2023
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The following chart, from Charlie Bilello, highlights the fact that while investors remain overwhelmingly pessimistic about markets and the economy, first quarter S&P 500 earnings (89% of them have been reported) actually showed 8% year-over-year growth, quite an impressive feat given the sky high earnings last year.
As a reminder, corporate earnings rose roughly 50% between 2019 and 2022.
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