There is no lack of scary economic news this year. The steady drumbeat of unemployment and bad-banking stories is enough to make you think we're headed for a dreaded "double-dip" recession. I don't believe it.
Growing companies create jobs. One good sign of a growing company is higher earnings, and we are in the thick of 3rd quarter earnings reports from US companies. The takeaway: better earnings across the board. Big companies, small companies, and those in between - we're seeing good reports. Here are a few examples:
Apple (no surprise)
Philip Morris International (ditto)
Bank of America (believe it or not)
CSX (rail activity a good economic barometer)
First Niagara Bank (good sign for our area)
Monro Muffler Brake (steady growth)
The headlines keep blaring bad news (it's what sells, after all). But under the radar, our economy is slowly and steadily improving.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).