Another Case of Irrational Exuberance?
Weekly Commentary, August 4th, 2017
- Equity markets – were positive this week with U.S. stocks (S&P 500) up 0.19% and international stocks (EAFE) up 1.00%.
- Fixed income markets – were mixed with investment grade bonds (AGG) up 0.19% while high yield bonds (JNK) were down -0.08%.
- Earnings Season Scorecard – with over 80% of S&P 500 companies having reported earnings both sales growth (+5.5%) and earnings growth (+10.6%) are solidly positive year-over-year. The gains are broad-based with every sector in the S&P 500 reporting year-over-year earnings growth.
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