Earnings and growth overpower foreboding headlines

Headlines

The stock market continues to march ahead and, despite troubling geopolitical headlines, has already exceeded the projections of many analysts for the year.  But economic growth is solid, inflation is minimal, and corporate earnings and profit margins are at record levels.  Regardless

Earnings deteriorate in energy and healthcare while Nike and Amazon power ahead

Chart of earnings deterioration

Stock market momentum accelerated to the downside this quarter.  Some may see this as ironic in that the economy has been gradually strengthening to a 3.9% GDP growth rate now, but markets look ahead.  As you recall, returns were modestly positive in