Consumer Discretionary Sector Faring Worst This Earnings Season

So far 26% of S&P 500 companies have reported their second quarter results. As shown below, companies for the most part have beaten their analysts' expectations.

As of 7:30 am Monday morning, the top down consensus estimate for the market was raised a full percentage point. Strong earnings numbers and the positive revision of the market's forecast provides a foundation for the large gains made so far this year.

click to enlarge

Comments

[Long-Short Guy:]

Isn't this bearish, despite the earnings beats? I'd have thought that consumer discretionary is the best indicator of economic sentiment.

2007 Jul 24 03:58 PM

[Daniel Hood:]

I agree Bearish.... Consumer first, everything else is a laging indicator.

2007 Jul 26 04:30 AM