Is the Earnings Recession Over?

(1) Stock market looks forward, not backward. (2) Green shoots popping up in revenues and earnings estimates. (3) S&P 500 forward earnings may be starting to bottom. (4) Consensus Q1 earnings estimate is down y/y, but actual results could be up slightly thanks to the “hook.” (5) Lots of angst about income inequality despite record readings for labor market indicators. (6) Income inequality seems to be worst during boom times. (7) Still more job openings than jobless workers. (8) Real hourly wage at record high. (9) The income stagnation myth is based on one flawed data series. (10) Consumption equality: We all eat about the same every day.