Do Earnings Matter?

(1) Q1 earnings expectations slashed. (2) Expected growth for S&P 500 earnings just 0.9% y/y. (3) So why are stocks back at record highs? (4) The end of the never-ending winter. (5) Double-digit earnings growth expected to make a comeback soon. (6) Forward earnings matter, and they are at record highs. (7) A relief rally celebrating better weather. (8) Regional and national M-PMIs rebounded in March. (9) So did car sales, but Q1 average was no higher than H2-2013 average. (10) Q1 Performance Derby. (11) Health Care P/E rebounded after HillaryCare, and doing so again despite ObamaCare. (12) Focus on market-weight-rated S&P 500 Health Care.