Source: Bloomberg
Source: Bloomberg
Asia UnhedgedReal-time intel on what moves markets

Corporate profits good news for US stocks

Q1 numbers are close to the best performance since the 2008 crisis

March 30, 2017 8:55 PM (UTC+8)

Corporate profits before tax and capital consumption adjustment are up 22% year on year. Except for the recovery quarter Q4 of 2009 (from a very low base), this is close to the best performance since the 2008 financial crisis.

As we wrote yesterday, the S&P is trading right around its long-term average of 16 times earnings, if we believe the forward P/E forecasts. Today’s report is good news for US stocks.

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