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ADVERTISEMENT Democrats seem convinced voters will reward Biden’s giant spending blitz, and especially those $1,400 checks included in the recent stimulus bill, by allowing them to keep the House and the Senate. But for millions of Americans, those checks are already in the rear-view mirror, while the reality of rising grocery and gasoline prices is the speedbump straight ahead. Inflation could well become the kitchen-table issue of the midterm elections. And Biden may take the blame. Yellen, realizing that her comments created a squall on Wall Street, joined several brainiacs at the Federal Reserve in reassuring us that inflation was not a serious issue. Yes, prices may go higher for a bit, she argued, but, not to worry, the Fed will step in if necessary. ....
External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Companies Are Reporting Better Performances Than Wall Street Expected 15 hours ago Financial earnings in early 2021 turned out to be better than most were expecting. Ed Hyman chairman and head of the economic research team for Evercore ISI wrote in a note to clients, “There’s evidence every day that growth is clearly improving around the world, today from the US to Australia.” So far, first-quarter earnings have been reported by 34 companies in the S&P 500. According to the Earnings Scout, 88% of those reported have topped their Q1 2021 EPS estimates by an average of 22%. ....
Will these huge earnings beats continue? Don t bet on it, Raich tells me. Analysts cannot see the future. The reason they are so far off is that with no clues from the companies, they get very conservative, he said. As companies give more guidance and the pandemic recedes, you will see the analyst estimates start to narrow. Still, that is not a reason to be pessimistic. What matters for stocks is earnings estimates for future quarters, and here there is also good news. The majority of the companies that have reported are seeing their second quarter estimates raised, which is very positive for stocks, Raich said. ....
So far in earnings season, companies are reporting numbers way above what Wall Street expected msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
The Economy Is On The Cusp Of A Major Boom And Economists Believe It Could Last The economy has entered a period of supercharged growth, and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023. Economists now expect the second quarter to grow at a pace of 10%, and growth for 2021 is expected to be north of 6.5%. In the past decade, there have been few quarters where gross domestic product grew at even 3%. Forecasts for 2021 and 2022 were revised higher after Congress approved $1.9 trillion in fiscal spending, on top of an earlier $900 billion package late last year. ....