Updates on Profit Margins & Europe

Check out the accompanying pdf and chart collection. (1) Record-high stock prices driven by record-high earnings. (2) S&P 500 revenues and earnings beating Q3 expectations. (3) Negative forward guidance on labor and parts shortages not weighing on earnings expectations. (4) Annual revenue and earnings estimates for 2021-23 at record highs. (5) Profit margin expectations plateauing at record level. (6) No sign that cost pressures are squeezing margins. (7) Europe relying on Russian gas to keep warm. (8) Breakthrough cases, a new pandemic woe in Europe. (9) Europe’s recovery slowing despite lots of fiscal and monetary stimulus.