Earnings Season’s Greetings

(1) Get ready for another quarterly upside hook. (2) S&P 500 forward revenues and earnings per share at record highs. (3) Will macro slowdown show up in micro earnings reports? (4) Consumers are in a good place, though their confidence moderated a bit in June. (5) Are jobs really getting harder to find, or are skill mismatches getting worse? (6) Home sales should get a lift from lower mortgage rates. (7) Business equipment production is mostly down ytd with exception of information processing equipment. (8) Defense output taking off. (9) Mixed picture: trucks vs railroads. (10) Bank loans at record high. (11) Hard to find anything good to say about overseas economies. (12) Two studies with different results about S&P 500’s foreign sales exposure.