Fed Chair Powell Hints To Strong Earnings Season
We had been listening to see if trade concerns might slow orders and demand in Q3 but Chairman Powell's comments were bullish. That's important when it comes to guidance which is usually the swing factor for earnings reports.
The Atlanta Fed had a pickup in their Q2 GDP estimate to 4.5% which aligns with Chairman Powell's comments.
We'd guess as business leaders see the pick up of economic strength they likely will not hold back demand in Q3. Being already in Q3 and assuming Powell talks to many business leaders daily or weekly, that should be a big hint that overall guidance can be decent. When we speak to companies we also don't get a sense that trends should slow.
We remain bullish for earnings season.
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We're about to hit our prime time, earnings season.
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