FT quoted a lot of execs are saying that they will be raising prices and that consumers won’t mind due to tariff news. The ability to pass on higher costs has allowed companies to protect and in many cases boost their profit margins. “Following the best earnings season since 2010, S&P 500 profit margins have now risen to an all-time high,” Goldman Sachs analysts noted. Second-quarter earnings for companies in the S&P 500 index are on track to increase 24.6 per cent from the same period of last year, according to Thomson Reuters I/B/E/S. Goldman cautioned, however, that margin growth is likely to slow, as the “tailwinds” of tax cuts fade, global growth moderates and wage pressures and interest rates both rise. ADP recorded US wage growth of 3 per cent in the second quarter, and core producer prices rose 0.3 per cent month-on-month in July to stand 2.8 per cent above their level a year earlier. A weak reading on Friday from the University of Michigan’s preliminary consumer sentiment survey for August has raised questions about sensitivity to rising prices, particularly among poorer consumers, with the report’s chief economist saying that the fall-off in favourable price perceptions it found was “much larger than ever before recorded”.
You still stuck in Aspen?
yep, here until friday! weird weather for summer though. its pretty chilly then heats up in afternoon. weather is pretty dry, i got bloody boogers if i dont touch my nose fora few hours. its easy to lose your breath up in here. people are pretty balling but dotn drive luxury cars. ate caviar and truffles for first time over weekend with some wagyu steak. teh clubs are purty tight. but i didnt really turn up, just took pictures. there are museums but i give zero shits. also the demeanor is very different from the city. everyone is pretty trusting. littles kids using airplanes and buses on their own. its insane!
Kids driving buses and planes? Next you’ll say the bears are driving around.