There is an old saying on Wall Street that earnings are the lifeblood of the market. Stocks are apt to follow earnings, both up and down. As the chart below illustrates, operating earnings during the dark days of the great recession plummeted to $39.61. This sent the broad market index spiraling downward to 676, its lowest level since 1996. Massive fiscal and monetary policy was implemented to stall and reverse the calamity… https://beta.1db.com/wp-content/uploads/2016/07/mm-072616.pdf
