Shaw Financial

17 Aug BOTTOM LINE: IMPRESSIVE EARNINGS SEASON

Corporate America delivered another outstanding earnings season, with double-digit earnings growth, solid upside to forecasts, and generally upbeat outlooks from corporate management teams. We have been particularly impressed with the breadth of earnings gains and upside to revenue forecasts. Strong earnings continue to provide support...

10 Aug BUY THE DIP? WHAT DIP?

Buy the dip? What dip? Beyond the double-digit gains in stocks this year1 and all of the all-time highs (29 for the S&P 500 Index already this year), perhaps the biggest story for the S&P 500 in 2017 is the absence of pullbacks. Here we...

28 Jul TAX REFORM PIVOT?

Is it time for the tax reform pivot? Earnings season will get a lot of attention this week (July 24–28) with 190 S&P 500 Index companies slated to report, as will the Federal Reserve with its two-day policy meeting concluding on Wednesday, July 26 (though...

20 Jul GAUGING GLOBAL GROWTH

Since 2012, real global gross domestic product (GDP) growth has been between 3.1 and 3.5% annually, according to International Monetary Fund (IMF) estimates, with 2016 seeing the slowest growth of the period. At the start of the year, broad expectations were that continued support from...

11 Jul SECOND QUARTER 2017 EARNINGS PREVIEW

Earnings season is underway this week (July 10–14) and may be another good one, with double-digit S&P 500 Index earnings growth possible. But getting to double digits will be tougher than it was in the first quarter when S&P 500 earnings increased more than 15% year over year. First...

11 Jul MANUFACTURING MATTERS

U.S. manufacturing still matters when evaluating the U.S. and global economy. While manufacturing as a percent of the U.S. economy has declined steadily since the end of World War II, its impact is greater than its size. Manufacturing tends to be more cyclical than service activity, and it remains...

06 Jul Midyear Outlook 2017

An important shift has taken place in this economic cycle. The Federal Reserve (Fed) was finally able to start following through on its projected rate hike path, raising rates twice in just over a three-month period. By doing so, the Fed showed increasing trust that the economy has largely...