Topline U.S. growth is lackluster: 4Q15 GDP grew 1.4% and the initial 1Q16 report was .5%. And the combination of a strong dollar and weak international economies have led to declining corporate profits in 4 of the last 5 quarters. The combination of weak economic and revenue growth is the primary reason equity markets have been unable to break through long-term resistance. Unfortunately, it appears the markets are on track to once again fail an upside test.
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