Corporate America's Recession Fears Plummet Despite the Highest Average Tariff Rate Since 1910
Main Idea
Corporate America's recession fears have significantly decreased, with fewer S&P 500 companies mentioning 'recession' in earnings calls, while markets and cryptocurrencies like Bitcoin have shown strong performance.
Key Points
1. The number of S&P 500 companies mentioning 'recession' in Q2 earnings calls dropped sharply to 16, down from 124 in Q1.
2. The S&P 500 has risen 28% since early April, and Bitcoin has surged 62% to $122,000 in four months.
3. Over 80% of S&P 500 companies beat earnings expectations in Q2, marking the strongest performance in four years.
4. President Donald Trump's trade tariffs have raised the average U.S. tariff rate to 20.1%, the highest sustained level since the 1910s, but markets have largely ignored tariff-induced recession fears.
Description
Corporate America's fears of a looming economic recession have evaporated as quickly as they emerged early this year. The number of S&P 500 companies that mentioned the word "recession" during their second-quarter earnings call dropped sharply to just 16, down sharply from 124 in the first quarter, according to data source FactSet . A recession is defined as two consecutive quarters of negative economic growth, as measured by the gross domestic product. "Recession was uttered just 16 times so fa...
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