(email exchange)
yes,
seems second quarter earnings should be better than expected and that costs are way down which will
add to profitability even with flattish sales.
and very wide net interest margins will support bank earnings growth even with low volume and continuing losses.
this can be a very good environment for stocks.
Karim writes:
Details a bit firmer than headline.
Overall, still contracting at a slower rate.
| June | May | |
| Composite | 47.0 | 44.0 |
| Activity | 49.8 | 42.4 |
| Prices paid | 53.7 | 46.9 |
| New Orders | 48.6 | 44.4 |
| Employment | 43.4 | 39.0 |
| Export Orders | 54.5 | 47.0 |
| Imports | 47.0 | 46.0 |
“Business has improved and holding steady.” (Arts, Entertainment & Recreation)
“Activity level is flat. Clients are delaying capital spending decisions.” (Professional, Scientific & Technical Services)
“Economy may be stabilizing. Second half looks more positive than first half.” (Information)
“Have begun spending government stimulus funding, and expect conditions to gradually improve in the near future.” (Public Administration)
“Occupancy levels continue to increase at a slow pace.” (Accommodation & Food Services)
“Activity is still slow and little has changed since last month.” (Wholesale Trade)
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