Author: Zac Martin, Investment Associate.
Week Ending May 10th – No News is Good News
- News this past week was light for Economic Reporting. Earnings are also wrapping up with 92% of S&P 500 companies already reported.
- According to FactSet 78% of companies reported a positive surprise in earnings, leading to a blended year-over-year growth rate of 5.4% for the S&P 500.
- Earnings Recap: Disney reported disappointing earnings for Q2 but raised guidance for the year. Management commentary was cautious on demand as there is evidence of a global moderation. Airbnb saw a Q1 report beat, with higher margins and greater nights booked than expected. However, management guidance was underwhelming due to Easter falling in Q1 and not Q2.
The week ahead:
- Producer Price Index (5/14)
- Consumer Price Index (5/15)
- Retail Sales (5/15)
- Building Permits & Housing Starts (5/16)
- Leading Indicators (5/17)
- Earnings: HD (5/14), CSCO (5/15), DE, WMT, CPRT, AMAT, TTWO (5/16).
HORAN Capital Advisors, LLC is an SEC registered investment advisor. The information herein has been obtained from sources believed to be reliable but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HCA and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.