Market Week: May 2, 2022
The U.S. economy contracted by an annualized 1.4% in 1Q, well short of consensus expectations for a 1.0% expansion.
The U.S. economy contracted by an annualized 1.4% in 1Q, well short of consensus expectations for a 1.0% expansion.
The selloff continued in April, with the S&P 500 Index down 8.72% in the usually bullish month of April.
With 22.0% of market cap reporting, 1Q22 S&P 500 operating earnings per share (EPS) are currently tracking $51.30.
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While consumer prices were certainly very hot in March (Headline CPI +1.2% m/m, +8.5% y/y), they were no worse than feared.