Earnings Season’s Greetings

(1) Big downward revision in Q3 earnings consensus. (2) Industry analysts turn from overly optimistic to too pessimistic as earnings reporting seasons approach. (3) 77/98 quarters of upside earnings hooks. (4) Another record high for forward earnings. (5) Global challenges for revenues growth. (6) US consumers consuming. (7) Shipments data mixed for S&P 500 Industrials and Information Technology. (8) Railroads huffing and puffing, while truckers are cruising. (9) Financials have loan demand, while margins are getting squeezed a bit. (10) Commodity producers face weak pricing.