Blog

  If you have been reading our recent posts, you know we have become increasingly concerned about corporate earnings growth. Although speculators will make investments based upon a host of reasons, we tend to stay focused on what matters...earnings. Earnings have been… More >>

  There was a lot going on during the week with earnings season coming very close to an end and a big jobs report on Friday. Earnings are weak and got weaker as the season progressed.[i] On the other hand, the job market heated up considerably in April from a revised,… More >>

  As we anticipated in last week’s post, US GDP did come in at a very disappointing 0.2% growth.[i] This was anemic and also much slower growth than the expected growth of 1.0%.[ii] When you examine the component parts of US GDP, (Consumption + Investment + Government… More >>

  This Wednesday, we will get confirmation on what has been the most anticipated economic event of the year, United States Q1 GDP growth. We may also receive insights about the economy and interest rates from the Fed, which has a meeting this week as well. It's clear that… More >>

  It’s the start of earnings season, so let's take an early look at the numbers. With 56 of the S&P 500 companies reporting so far, earnings are coming in better than expected with 43 companies (77%) beating estimates.[i] Some bad news in the numbers appears on two… More >>

  As is customary for us at Phillips and Company, we use the end of each quarter as an opportunity to look at what's ahead in the coming quarter from a market perspective. Unlike many of the past quarters over the last 5 years, this quarter has the most pivotal issues to… More >>

  The time is growing near when we can start to filter the economic and earnings data from the general noise in the typical information flow of the markets. In my opinion, the classic Bull vs Bear clash will break down to two themes that are on the same side of the coin.… More >>

  On my recent visit to China, my goal was to learn much more about an economy we are invested in. It's impossible to summarize China in any one post. It's a country that is complex and so different than the United States, not just culturally but economically. I'm going to… More >>

  As expected last Wednesday, the Fed removed the word “patient” from its interest rate policy statement, moving us one step closer to potential interest rate increases, perhaps as soon as the Fed’s June meeting. However, the Fed will still be cautious and consider the… More >>

  On Wednesday, the Fed will meet to discuss the future of interest rates in the United States. Most commentators don't anticipate a rate increase at the March meeting, yet they do expect more certainty around rate hikes in the near future. With the removal of one word… More >>