Invesco: Early earnings calls indicate a resilient US economy
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Kristina Hooper, Chief Global Market Strategist at Invesco, notes positive trends in early Q3 earnings calls, with 6% of S&P 500 companies reporting. S&P 500 earnings growth is expected at 4.1%, with technology at 14.9% and materials/energy sectors negative. Historically, 37 of the last 40 quarters saw actual earnings growth exceed estimates. The US economy is in good shape, likely experiencing a soft landing. Consumers are healthy but price-conscious, with higher income consumers driving spending. Labor market strength is crucial for consumer health. Corporations are optimistic, with 85% expecting increased travel spending in 2025. Risks include trade wars affecting margins. China's recent stimulus plan aims for long-term growth, supporting local governments and state-owned banks. Upcoming data releases will provide further insights into the US economy's strength.

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https://ifamagazine.com/invesco-early-earnings-calls-indicate-a-resilient-us-economy/