Earnings

Expecting the S&P 500 Index to build on Monday’s 0.8% advance through the rest of this quarter may be wishful thinking, based on history. The index had its worst performance in the third quarter between 1980 and 2018. Gains in the third quarter averaged 0.3%, far below the comparable figures of 2.6% for the first … Continue reading Earnings

Home Sales

Existing home sales came in at 5.34M, seasonally adjusted annualize, topping the consensus estimate of 5.28M. This was a good report. The term good is relative. Sales are still down year-over-year as well as year to date.

Online Retail Surpasses Brick & Mortar

An unprecedented shift in U.S. consumers’ buying habits was reaffirmed in May. Online merchants accounted for about 12% of last month’s retail sales, according to figures compiled by the Commerce Department. They exceeded the 11.8% share for department stores and other general-merchandise chains. Stores reached by mouse clicks generated more sales than the brick-and-mortar retailers … Continue reading Online Retail Surpasses Brick & Mortar