Earnings are going well so far. Mostly it's about the way companies seem to be handingling inflation, pushing prices along to the consumer and that leads to more profits – even if they only reflect the inflation. PPI came in this morning showing a 0.5% increase in September , giving us an 8.6% rise for the year so far, accelerating from last month's 8.3% pace. The good news is, Fuel is up 11.6% and, to the extent that's not a long-lasting problem, prices should calm down a bit going forward – so the markets are happy today . We may have reached Peak Pizza as Domino's (DPZ) dropped 3.5% this morning on a revenue miss but United Health (UNH) is up 3% and Walgreens (WBA) is up 2% – that's one we were betting on, of course. Bank of America is up a full 2.5% on a 58% improvement in profits over last year and Morgan Stanley is heading on the same path with a 36% increase in profits. IN PROGRESS
Earnings are going well so far.
Mostly it's about the way companies seem to be handingling inflation, pushing prices along to the consumer and that leads to more profits – even if they only reflect the inflation. PPI came in this morning showing a 0.5% increase in September, giving us an 8.6% rise for the year so far, accelerating from last month's 8.3% pace. The good news is, Fuel is up 11.6% and, to the extent that's not a long-lasting problem, prices should calm down a bit going forward – so the markets are happy today.
We may have reached Peak Pizza as Domino's (DPZ) dropped 3.5% this morning on a revenue miss but United Health (UNH) is up 3% and Walgreens (WBA) is up 2% – that's one we were betting on, of course. Bank of America is up a full 2.5% on a 58% improvement in profits over last year and Morgan Stanley is heading on the same path with a 36% increase in profits.
IN PROGRESS
