Am I right in stating that the earnings from the major US companies which has been pretty powerful is at the end of the day a lagging indicator. What the market should be looking at are things like consumer sentiment and spending which are both tipping lower. Once earnings season is over we might start to look more closely at these then I can only see May as a down month the only question is how much? Cheers
I think if you look at when a quarter ends and when those quarter results are actually released, you have answered your own question.
Yes, let's recap...the earnings we're seeing at the moment reflect past performance (lagging). Taken in isolation they're not sparkling....however when viewed against the severely lowered expectations they seem to rock. Conspiracy? (ie the market rages ahead because for the last quarter *some* companies have beaten some quite low expectations...hardly bodes well for rest of the year)