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Chart of the Day - Earnings:

http://www.chartoftheday.com/20150909.htm?H

With Q2 earnings largely in the books (over 97% of S&P 500 firms have reported), today's chart provides some long-term perspective on the current earnings environment by focusing on 12-month, as reported S&P 500 earnings. Today's chart illustrates the dramatic nature of the earnings plunge during the financial crisis as well as the recovery that followed -- a recovery that took earnings from levels not seen since the Great Depression to a new record high. Over the past two quarters, however, S&P 500 inflation-adjusted earnings have declined by a significant 12% from their record highs -- a significant concern going forward.