Consumers, Earnings & MegaCap-8

Check out the accompanying pdf and chart collection. Executive Summary: The US economy has been doing well thanks to consumers, defying the gravitational pull of aggressive Fed tightening. Driving the consumers’ record-high real spending is rising real disposable income. Rising real incomes are a function of strong employment. … Supporting the hot labor market are robust construction activity, consumer spending trends, and Baby Boomers’ lifestyles in retirement. … Also: Joe examines the rates of Q3 earnings and revenues growth that analysts expect for the S&P 500 with and without two sets of stocks that sway results significantly: the MegaCap-8 and the S&P 500 Energy sector.