President Trump is right about record earnings — and these companies are getting even more profitable

“President Trump made a bold claim on Aug. 1, using Twitter to quote Fox Business host Stuart Varney: ”Corporations have NEVER made as much money as they are making now.’ Thank you Stuart Varney @foxandfriends. Jobs are starting to roar, watch!'” Philip Van Doorn writes for MarketWatch. “The S&P 500 Index trades for 18.8 times aggregate consensus earnings estimates for the current year, the highest it’s been in this eight-year bull market. So to support stock prices at this stage of the cycle, companies had better be on pace to set record earnings

“The good news for investors is that it appears Varney and Trump are correct. S&P 500 companies are expected by analysts to earn a record $131.67 a share in 2017, an increase of 10.3%, according to FactSet,” Van Doorn writes. “And analysts forecast earnings growth of 11.1% for 2018 and 9.5% for 2019.”

 
“Apple Inc. didn’t set an earnings record when it released fiscal third-quarter results on Aug. 1, but it beat analysts’ expectations and contributed to the overall earnings record that Trump has been crowing about. Earnings were up 12% to $8.72 billion, and earnings per share jumped 18% to $1.67,” Van Doorn writes. “We have put together a list of the 20 S&P 500 companies that have done two things: 1. increased sales per share the most over the past 12 reported months through Aug. 1; 2. improved gross profit margins…”

Read more in the full article here.

MacDailyNews Take: A rising tide lifts all boats.

SEE ALSO:
Apple beats Street – August 1, 2017

98 Comments

  1. I’m of course pleased to watch US businesses improve.

    But for The Trump to point at himself and pretend it’s him is just more of the same old vacuous narcissism. He’s so predictable.

    Meanwhile, clearly the efforts to overcome the self-inflicted economic catastrophe of 2007 is paying off. Let’s make damned sure that irresponsible, dickhead financial institutions are never allowed to destroy our future again. THAT is what proper regulation is for.

    1. Of course, if the economy were doing poorly, you and your ilk would be the first to affix the blame squarely upon President Trump.

      You can’t have it both ways, addled Dem/Lib/Progs.

        1. I see that you’ve totally failed to address my statement, so here it is again:

          Of course, if the economy were doing poorly, you and your ilk would be the first to affix the blame squarely upon President Trump.

          You can’t have it both ways, addled Dem/Lib/Progs.

          1. I’ll address it. You are lying. If the economy was doing poorly it would have been doing poorly at the end of the Obama Administration.

            Anyone with have a brain can see a continuing pattern and even the simplest mind can grasp the concept.

        2. You live in both because you are a vacillating weasel with no principle, passion or faith. Mencken once described you:

          “A cynic is a man who, when he smells flowers, looks around for a coffin.”

      1. I’ll address it, the current president hasn’t passed any legislation related to the economy or tax code. In fact he hasn’t passed any major legislation at all, therefore none of his policies are responsible for the current economic conditions. Just as in the in beginning of 2009 before the last president and Congress passed the recovery act, the economic issues couldn’t be laid at his feet either by the same logic, yet everyone on your side rushed to blame him.

        Here’s when the current president (or any president for that matter) can take credit for economic success or failure: after they’ve passed legislation that has a direct effect on the economy, and the results can be seen. If a tax bill is passed this fall, then we will begin to see the effects next year. That’s when he can claim credit or blame. The current economic environment can be still laid at the previous presidents feet, and as 2.6% growth was achieved in 14 quarters during the last administration, and the stock market more than doubled from 2009-2017 (8000-20,000) he does deserve a lot of credit for that. If no policy changes are made it is highly likely that the economy will remain stable for the foreseeable future, and growth will average around 2-2.5% as it has since 2011 when we truly began recovering from the near disaster in 2007-2008.

        1. You have the mind of a fourth grader. “…the current president hasn’t passed any legislation at all …”.

          Dummy, Presidents don’t pass legislation. The House and the Senate pass legislation. Then the President signs the “passed legislation”, as Trump would have done within about 10 seconds with the healthcare bill and also would with tax cuts.

          1. And I think you are missing the point.

            He doesn’t have the support of Congress to get any of these vague ‘ideas’ he has even to his desk.

            His thoughts on what he wanted to deliver to the American people on healthcare during the campaign for instance, are completely at odds with what he is proposing now. He wants any sort of win and at any cost.

            You’ve got to provide a convincing argument and rally the troops to get legislation to the desk.

            He lacks the leadership skills, integrity and honesty to convince them of anything. Sad really.

            1. You and Rose Water and DC effectively captured reality. Firsty can’t handle it. Just like Trump, Firsty always needs to be right even when he is wrong. It is a terrible character flaw, by itself. But, with Trump and Firsty, that flaw is compounded by many others.

              Trump won the general election via the Electoral College (not the popular vote, no matter how much he whines about it). And Gorsuch was placed on the Supreme Court thanks to the unethical machinations of McConnell (Trump takes credit, but he only nominated the guy and the only reason that the slot remained was because the Republicans cheated the democratic system of our country once again). Trump has committed to pulling out of the TPP and the Paris Accords. But no healthcare R/R, no tax reform, no wall, no substantive reforms anywhere, really. Trump has been using Executive Orders and appointed deconstructor agency heads to chip away at various policies related to the environment, immigration, health care, etc. And he has ordered a number of studies via EOs grandiosely signed as if they were major pieces of legislation. But Trump has actually accomplished very little and it is his own fault along with that of the Republican majorities in the House and Senate.

              Quite trying to look good by taking false credit and avoiding legitimate blame. You Republicans like to sweep your failures under the rug (if you cannot manage to pin them on someone else). George Bush who??

            2. From my perspective the ineffectiveness of the Trump administration is a gift. I’m also not overly worried about the survival of “Federal” Agencies that can do all manner of harm to citizens with one size fits all decisions made thousands of miles from the unintended impacts they have.

              Take the win. Let him vacation 230 days a year until his term expires. They can only cause more trouble when they work together to “help” us.

        2. In the U.S.A, the president doesn’t “pass legislation,” major or minor.

          The president has policies and the powers of the pen and the bully pulpit. All of President Trump’s policies and executive actions are beneficial to improving economic growth: Better new trade deals, scrapping/renegotiating bad trade deals, lower taxes, repatriation holiday, significant infrastructure spending, dramatically cutting regulation, etc.

          1. During the election cycle, Felonia von Pantsuit held one rally in Wisconsin, Donald Trump held 14.

            Donald Trump won Wisconsin and won the presidency.

            “labor omnia vincit.”

        1. I know…. please President Enrique Peña Nieto. Don’t say you won’t pay for the wall. It will make me look like the fool I am and my uneducated cult…. hmmmm… on second thought, they are too stupid to understand that I am an idiot and a fool. But just don’t say it. It makes me feel bad.

    1. then you are either another pampered and useless billionaire, or you are incredibly deluded. The immigrants that Trump regularly pisses on work far harder than that elitist, over-privileged sack o’ crap ever has or ever will.

      Mr. Vacation!

    1. Wow. The alt right is now using comics to reach down to the intelligence level of Trump’s base.

      When challenged to produce any objective evidence to back their assertions, this is the best they can come up with.

      I hope most people are smart enough to realize that the more nasty and more off topic the alt right becomes with their rhetoric, it is because they are grasping at straws to cover up for the ineptitude and lies. Check back in again in a year to see if you life is improved in any measurable way. During that time, Trump will have 50 weekends of golf under his belt, First will have copied more mindless political propaganda posters to post into tech blogs , and botvinnik will have filled out innumerable butthurt reports with georgie.

      I blame Apple. When Apple goes too long between product releases, the mdn crew rots their brain reading fact free breibart bullshit.

  2. We continue to reap the benefits of the Obama recovery (last 6 months of job growth just a bit under last 6 months of Obama administration), but income inequality is still to be addressed, and new tax proposals will make it worse. Wages and income have not accelerated at a fast enough pace. The rising tide is apparently only lifting the really big boats.

    1. Virtually every working American has 401k/pension/retirement plans tied to investment in corporate success. The MDN take is accurate:
      “A rising tide lifts all boats.”

      …and this ain’t nothin’ compared to when OBP gets corporate and business taxes to 15%.

      1. botvinnik, you are clearly out of touch with reality. There are plenty of working Americans without 401k/pension/retirement plans and without sufficient resources to invest in IRAs.

        As far as your assertion about Trump (“Of course, if the economy were doing poorly, you and your ilk would be the first to affix the blame squarely upon President Trump.”), it is irrelevant to the validity, or lack thereof, of your assertion that recent economic improvements should be credited to Trump. Yet another of a long string of logical fallacies on your part.

        The day that Trump and Trump supporters accept responsibility and blame for things that go wrong rather than deflecting the blame towards others is the day that Trump might deserve credit for something that he happens to do right.

      1. This is real data, not a link to some alt right bozos Working Paper claiming that only his proprietary statistical method is accurate. The open and accepted government stats used for decades aren’t saying what this alt right crowd wants to to believe, so attack the data as being fake and confuse the public. That fixes everything, right?

    2. There was no recovery. Both Bush and Obama benefited politically from the upside of bubbles driven by loose money policy. Trump will be present when this most recent bubble collapses and may even be blamed for it.

      But none of them had any influence on it other than to continue to spend more than is raised in revenue and continue to borrow the difference when increasing taxes are quite reasonably declined.

      They all get away with because the petrodollar is yge prettiest horse in the glue factory. The dollar is where everyone else’s money flees to when theirs turns to toilet paper.

    3. Currentinterest: per income inequality, how do you suggest it be remedied? Typically, when this topic arises, solutions are usually; tax the upper income brackets, increase the lower wages to “livable,” or some other kind of “stipend.” Enlighten me, please.

      1. Yes, increase taxes on upper income earners back where they were under such Republicans as Eisenhower (top marginal rate: 90 percent) or ever Reagan (top marginal rate: 50 percent).

        Tax trades on Wall Street to encourage long-term investment rather than enormous trading churn that designed solely to pull billions in profits out of the system.

        Invest in education and put factories (and blue collar workers) back to work building and installing renewable energy capacity wherever possible.

        It won’t do it all, but it’d be a good start.

            1. You could take the dialogue of this JFK speech and Trump’s speech on taxation and you would not be able to tell a whit of difference.

          1. Eisenhower’s solution: taxes to pay for investments in education (GI bill), infrastructure in both USA and in war torn regions (US interstate highways, Marshall Plan). And above all: diplomatic solutions to international problems.

            Eisenhower was 1000% better than JFK ever dreamed of being. Despite all the good intentions, JFK brought the USA to the brink of nuclear war and plunged the USA into Vietnam before the public had a clue. All while mounting public debts to pay for his wars.

            Of course, as bad as JFK’s accomplishments are in retrospect, he was no worse than the current president.

            1. There were no US combat soldiers deployed in Vietnam under JFK, in fact, one of his last EO’s was ordering US military advisors out of Vietnam.

              As far as the Cuban Missile Crisis, did millions of Americans die? NO, that is success. JFK was in constant communication with General Eisenhower for advice during his administration.
              JFK’s most important achievement was the United States Note, a non-interest bearing currency from the US Treasury that would have destroyed the Federal Reserve fiat currency fraud.

            2. PS: The Southeast Asian Treaty Organization, which committed the US to defense of allies in that region, (Including Vietnam) was created and implemented during the Eisenhower era.

        1. Besides the trading tax to discourage an action (taxation’s greatest strength), your proposals fit into the “make work” category. When that “make work” action is completed, then what. Make more work?

      1. This content of this speech marks the day I left supporting Rand Paul for president and became a rabid Donald Trump supporter. NO ONE was addressing the danger of globalist cabals destroying American sovereignty, NO ONE was addressing inherent danger to our society of unchecked illegal immigration and NO ONE was addressing vetting of foreign nationals whose goal is to destroy America. Most of all, NO ONE was defending and promoting the ingenuity, work ethic and imagination of what it really is to be American.

          1. It is interesting that a self-confessed homophobe – oh, excuse me, not homophobic but “homoemetic” (his own asinine term for his bigotry) – like Botty apparently has such ENGORGED passion for Der Trumper.

            1. To admit that people engaged is such acts makes him ill is less than charming but it is neither fear nor bigotry until he states what should happen as a consequence of his reaction.

              In many cultures incest carries taboos and physiological consequences to the offspring. But people are disgusted not fearful.

              He may indeed be a bigot for other reasons but he is certainly better qualified than you to judge and properly name his own feelings.

            2. Here’s it is in his own words:

              “homoemetic |ˈhomo e METik|
              adjective
              1 Nausea incurred by normal men when visualizing one man’s dick in another man’s butthole.”

              Thanks, but I’ll stick with my conclusion.

            3. Well of course you’ll prefer your own opinions. That’s what all bigots do. You’d likely go to war with the dictionary if it disagrees with you.

              If you start changing the meanings of words to suit only your groups there is no possible way for you to effectively communicate.

              It’s not good enough for you to just disagree. You must cast every blowhard as a villain.

              That is the definition of intolerance.

            4. Yeah, OK, Shock Me. I’m more than happy to continue voicing my opinion of Botty’s decade plus of bigoted bile on this site (I am hardly alone in this) and suffer your weird defense of him.

            5. Never asked you to stop. I’d just prefer you not accuse someone of something and then go on to model the same exact behavior.

              I can appreciate your exasperation with his statements. But have some pride in the quality of your opposition to him. With you both down in the mud we can’t tell one piglet from another.

        1. I enjoy your enthusiasm, but I may not certain President Trump is addressing any of your concerns. But I do think it is accurate to say he is the only candidate even speaking about your honest concerns.

          I don’t know that all his supporters in the last election have the same faith in him that you do. I got the impression they are so despondent at the situation that they would have voted for any warm body meeting the constitutional requirements. If for no other reason than he would be a spammer in the works.

          BEST of luck to us all.

      1. uh, Racebaiter, the president is NOT being investigated by the FBI….you are confusing the FBI with Torquemada Mueller’s “Inquisition Nouveau.”

        1. You are deflecting again, not addressing the facts. That is what you always do so why am I not surprised.

          Lock him up, lock him up, lock him up, lock him up, lock him up, lock him up, lock him up, lock him up, lock him up, lock him up, lock him up, lock him up,

          1. That’s not really a deflection though. It is merely a distinction without a difference.

            Special prosecutors are an agency unto themselves. Even then the President does not to be the direct subject of the investigation. But the people around him have been targeted for the dock.

            I suspect both the President and his most recent opponent will avoid prosecution for any of their crimes unless a way can be found to keep the party going by ensuring the resulting government retains the appearance of legitimacy.

            Can’t have the inmates taking over the asylum you know.

            1. in·ves·ti·ga·tion
              inˌvestəˈɡāSH(ə)n/Submit
              noun
              the action of investigating something or someone; formal or systematic examination or research.
              “he is under investigation for receiving illicit funds”

              Now, an investigation can have many parts. A detective might be a part, the FBI might be a part, attorneys may be a part.

              You get my drift? No. Too difficult a concept for your simple mind.

            2. BIG FUCKING DEAL….an inquisition of Clinton sycophant attorneys led by deep stater Torquemada Mueller…this will blow-up in your face.

              The demise of The Plantation Party is imminent.

  3. Impeach the MF already. Before our recovery as a respected, moral and healthy country becomes impossible. Such ignorance. Better warn your advertisers they’re all going to be taking quite a hit both MDN and they didn’t see coming. Wrong side of history, far right agenda. So much for credibility… Yes- Sad.

    1. Impeach him for what? What are the charges?

      “Willfully and by design, Donald J. Trump, hurt Auramac’s feelings on November 8, 2016 by being elected president of the United States. Further, he has brutally destroyed the legacy of his predecessor, The Muslim Usurper, beloved of all collectivists. Finally, the last charge is Donald J. Trump is a big ol’ meanie.”

      …try those on for articles of impeachment in the House of Representatives, you jackáss.

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