“It is rare when I come down on the same side as the black helicopter crowd. Assertions that unemployment data are falsified or that America’s gold reserves are a fiction make me roll my eyes every time. However, it’s hard not to agree with some of the doubters on one important issue lately: corporate earnings. Earnings stink, plain and simple… and the current trajectory of 1% sales decline on average would mark the first negative growth for revenue since third quarter 2009.”
Story from MarketWatch at…
…a dozen Senate Republicans…are willing to block a continuing resolution to fund the government beyond September 1, which of course, includes funding for Obamacare.” Story at…
Wednesday, the S&P 500 was down 0.4% to 1686 (rounded).