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Corporate America Clears The Bar. Again.
Earnings season's nearly over. Except for Nvidia. Which is about like saying football season's over
Earnings growth and expectations for such to continue, even accelerate, seem strong argument for equity bulls; while capex plans & expectations seem likewise – specifically for semi’s and particularly semi-equipment.
That being said, the Trusk (DonElon?) administration presents a much greater than usual left-tail risk (tthink – stegosaurus-tail order of magnitude!)…
Trusk. That is the best.
Annual estimates for SP500 have been declining over the last several months. 2025 EPS from 278 to 270, 2026 EPS from 318 to 307. Quarterly, 1Q25 EPS from 64 to 61 etc.