- by New Deal democrat
My “Weekly Indicators” post is up at Seeking Alpha.
The choice of what to highlight this week was very easy, because it was practically screamed from this following graph:
Corporate profits were through the roof in Q2, driven not just by AI-related companies but even more by the tidal wave of windfall profits by the energy companies, whose costs remained the same while gas prices skyrocketed. Corporate profits increased 22% in this quarter alone, and were almost 50% higher (!) than just one year ago, which itself had been an all-time record.
Earlier this week that “right now, the stock market *is* the economy,” because it is the surge in stock prices which is driving much of consumer spending. Between these profits and the punk jobs report yesterday, that is even moreso the case.
As usual, clicking over and reading will bring you up to the virtual moment as to all of the economic data, and reward me with a penny or two towards my next lunch excursion.