bullish
Weekly Stock Bullfinder - Week of 10/3
SUMMARY
- In just a few weeks, we will be in the thick of the third quarter earnings season which will steal the spotlight, at least temporarily, from global macro developments.
- There appears to be mounting evidence from downside earnings surprises from Nike, FedEx, and CarMax that the consumer and economic pullback is now showing up in the financial reporting of companies quarterly profits and margins.
- The global economic slowdown and inflation impacts are eroding margins and causing retailers like Nike to experience significant inventory builds which will require price cuts to clear the inventory (while good news for inflation).
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