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From the Wall Street Journal:
Profits at S&P 500 companies jumped an estimated 23.5% in the three months through June, according to data from Thomson Reuters, more than two and half times revenue growth in the same period….“Companies are coming out unapologetically with pricing increases,” said Jim Russell, portfolio manager at Bahl & Gaynor. “That is one of the more optimistic things we see for keeping [profit] margins high in 2018 and into 2019.”
Happy news indeed. Here’s a handy chart so that you can see how this is trickling down to all the rest of us:
I recommend you pass this around to all your friends and ask them to tape it to their refrigerator doors until November 6.