Summer Bull Continues to Run; Stay the Course

The 2Q20 earning season is now about 95% finished and not surprisingly, companies beat very low expectations by a wide margin.  In fact, 83% that have reported have been upside surprises, and companies that have reported are beating on average by over 23 percentage points.

2Q20 consensus EPS on the S&P 500 now stands at $28.20 while consensus for FY20 now stands at $133.

With less than 10% of names left to report that don’t cover much aggregate income, I don’t see these numbe...

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