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Wednesday, July 02, 2003 10:52:33 PM
Chart of the Day
Today's chart illustrates that while inflation-adjusted S&P 500 earnings are in the lower half of a 50-year trend, they have been slowly improving since the latter part of 2002. With earnings season fast approaching, the market will be paying increasingly close attention to the latest quarterly reports to determine if earnings can help justify the recent run-up in stock prices. We'll keep you posted...
Notes:
- Recession end dates (except for Dec-2001) as determined by the National Bureau of Economic Research (NBER). The Dec-2001 recession end date is based on the unemployment rate.
Today's chart illustrates that while inflation-adjusted S&P 500 earnings are in the lower half of a 50-year trend, they have been slowly improving since the latter part of 2002. With earnings season fast approaching, the market will be paying increasingly close attention to the latest quarterly reports to determine if earnings can help justify the recent run-up in stock prices. We'll keep you posted...
Notes:
- Recession end dates (except for Dec-2001) as determined by the National Bureau of Economic Research (NBER). The Dec-2001 recession end date is based on the unemployment rate.
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