living in Obamatowns and FEMA camps and begging for a daily hunk of government cheese.
Posted on 04/28/2016 6:42:39 AM PDT by Lorianne
Weak global growth is closing consumers' wallets, while the strong dollar is only making iPhones and other American goods more expensive for foreign buyers. Add on still-low oil prices and Corporate America is facing major headwinds.
"It's like these companies are trying to play basketball but the tar is melting and sticking to their sneaks. Not fun to watch," says Jack Kramer, co-founder of MarketSnacks, a financial newsletter.
Apple's stock quickly fell more than 7% when markets opened Wednesday after it revealed its first annual sales growth decline since 2003. Reeling from its E. coli scare late last year, Chipotle reported its first quarterly loss ever and its stock dropped about 5%. And Twitter's stock spiraled 15% lower on Wednesday after its results missed estimates.
They're not alone. Big oil, tech and other former bull market studs like Starbucks (SBUX) are getting burned this quarter too. Earnings for energy companies are down a whopping 110% compared to a year ago.
Consider this: seven of the 10 major sectors in the S&P 500 are in the red so far this quarter. A year ago, only two sectors suffered profit drops, according to S&P.
(Excerpt) Read more at money.cnn.com ...
This is so unexpected! How could the economy be in trouble despite Obama’s focus on the important policies: global warming, gender identity, and making guests from other countries feel welcome? We obviously need just a few more years for this fundamental transformation to take hold, and then the natural level of growth that socialism promotes will be unstoppable.
Marxism has never worked anywhere it’s been tried - and that includes obama’s America.
Calling an iPhone and “American” good is freakin’ hilarious.
Fundamentally changing America!
His layczar folkus on the E’conomy
They had better get used to it. No matter how this goes, their days of infinitely rising profits are coming to an end.
Either Trump is going to end the Cheap Labor Express, or the Dems are going to bludgeon them into Socialist submission.
All lining up for the Fall Season.
Low Gas prices
Yet the economy is not overheating?
Scary
Democrats do not want equality, they want slaves. And they do not care what color the slaves are.
What kind of “Corporate America” struggles with low oil prices? One sector: big oil. Everyone else is good with it.
So it makes me question the perspective,
This news should make the rigged Stock Market jump to a new high.
Is this “Recovery Summer 8?”
Thanks Obungass.
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