I would have thought people would have changed their earnings expectations given that higher rates were expected to slow growth. The expectation all along was that because of productivity growth, companies would be able to keep boosting their profit margins, even if they weren't producing as much in goods and services, but that's obviously is not the case.
More Quotes from Drew Matus:
I don't think this is going to draw much in the way of the Fed's attention. It was delayed for some time, and nobody from the Fed was complaining. They don't focus on it.Drew Matus
When you have MA activity, strategic decisions are being made, and that's a development that only occurs when people are very confident and looking towards the future. That will help the economy, and we will have hiring.
Drew Matus
We expect a balanced speech that reaffirms that a March hike is likely, but that subsequent moves are data-dependent.
Drew Matus
The important thing, though, (it that) it's a January number. So we ended the fourth quarter on 1.1 GDP growth, but now, starting the next new quarter, we're going to have this surge in housing activity. And it's going to add to GDP estimates for the first quarter.
Drew Matus
The prices received number tells us that basically some firms are gaining pricing power. What that really means is there could be inflation in the outlook.
Drew Matus
We've got some good news in this report but it's likely to be short-lived. We can expect the large trade deficits we've come to know to continue for the rest of the year.
Drew Matus
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