One of our concerns heading into this earnings season was the extent to which rising input costs would do a number on corporate bottom lines and forward guidance, and, thus, on stock prices.
Well, if the broad market is any indication -- although we're early in said season -- so far so good.
Indeed, per below, company execs are voicing their concerns, but save of course for a few specific company hits here and there, again, the market's holding up just fine, so far...
Here's economist Peter Boockvar pointing a few out in his morning note:
On the data front, homebuilder sentiment, released yesterday, improved:
"To genuinely consider yourself a “realistic” person is intensely arrogant and naïve. If you do so, you claim that you are capable of understanding reality. And, is there a more silly and arrogant person than the one who claims such an impermissible thing?"
Have a great day!