First Quarter 2017 Earnings Preview

The S&P 500 is poised for double-digit earnings growth in the first quarter. Earnings season gets underway this week and corporate America is poised to show a strong increase in its bottom line. The S&P 500 appears likely to produce doubledigit year-over-year earnings growth for the first quarter, powered by energy’s rebound from the oil downturn that battered the sector early last year. Last year’s first quarter marked the trough of the earnings recession as S&P 500 earnings fell 5%, setting up an easy comparison for the first quarter of 2017 [Figure 1]. This week we preview the upcoming earnings season. Continue reading “First Quarter 2017 Earnings Preview”

The $4.2 Trillion Dilemma

Minutes from the most recent Federal Reserve (Fed) meeting, released last Wednesday, sparked selling of stocks and bonds, as investors read that the Fed may reduce its $4.2 trillion balance sheet. Minutes also revealed that “some Fed officials viewed equity prices as quite high relative to standard valuation measures” and that there are “downside risks” if “financial markets were to experience a significant correction.” As we mentioned last week, we believe the stock market reaction to the Fed minutes was overdone, but nevertheless, investors should take the ending of Fed accommodation seriously.

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_I Want my GDP

BEA

On Friday, January 27, 2017, the Bureau of Economic Analysis (BEA) will release the first (“advance”) estimate of U.S. gross domestic product (GDP) for the fourth quarter of 2016.

While this is our first official look at GDP for the quarter, data that feed through to GDP started coming out several months ago, starting with data for October 2016, the first month of the quarter. As a result, compared with more frequent economic data points, GDP is quite backwards looking. By the time the BEA actually reports GDP, some of the data will be based on economic activity that had taken place almost four months prior.

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Fourth Quarter 2016 Earnings Preview

key-takeaways

Fourth quarter 2016 earnings season gets underway this week (January 9–13), and it looks like it will be another good one. With Alcoa no longer the unofficial kick off of the earnings season, we will consider Friday the start of the season when several big banks with the potential to move the market will report. Here we preview fourth quarter earnings season, which we expect to be another good one, marking the return of earnings growth to the energy sector.

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Judy VanArsdale’s spoken testimony from the Ways and Means Subcommittee on Oversight hearing on the Department of Labor’s proposed fiduciary rule

Read Judy VanArsdale’s spoken testimony from last Wednesdays’s Ways and Means Subcommittee on Oversight hearing on the Department of Labor’s proposed fiduciary rule. ‘This is my life’s work, and I have a great passion for what I do… Let’s all work together to craft a fiduciary rule that is workable and protects the best interest of all investors.’ Way to go Judy!

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Judy VanArsdale gives Testimony at the Ways and Means Subcommittee on Oversight hearing on the Department of Labor’s proposed fiduciary rule

Congratulations to Judy VanArsdale! This past Wednesday, Judy testified at the Ways and Means Subcommittee on Oversight hearing on the Department of Labor’s proposed fiduciary rule. Congressman Roskam extended the invitation to discuss the work Judy does every day to help her clients save for their futures and to highlight the ways in which the DOL proposed fiduciary rule could impact her work and the ability of millions of American to save for their retirement. We are so proud of you, thank you for being our voice!