The Earnings Challenge

The earnings challenge is on. Despite the fact that the fiscal policy agenda that had the U.S. stock market so exciting coming into 2017 has increasingly disintegrated as the year has progressed, the catapult higher in stock prices has been justified instead by the strong improvement in corporate earnings. With economic growth forecasts continuing to fade and onus is increasingly on corporate earnings to continue to lift the U.S. stock market higher or at least keep it on its lofty perch. While the second quarter earnings season is now largely in the books, the earnings challenge is now fully taking shape for the remainder of 2017.

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