Earnings Ascending Again

(1) From gridlock to landslide. (2) New regime seems pro-business, except for anti-trade rhetoric. (3) One more state for a Republican majority to pass amendments. (4) Dems are the walking dead. (5) Losing the battles in the battleground states. (6) Q3 earnings season has a happy hook. (7) S&P 500 earnings up 3.8% y/y during Q3, but actually bottomed during Q1-2016. (8) Slicing-and-dicing revenues. (9) Profit margin still above 10%, refusing to revert to the mean as demanded by the bears. (10) Forward-looking measures of revenues and earnings suggest a happy first year for Trump’s first term.