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Hall of Fame Bull Market

The Compound and Friends

Thrust in S&P Earnings and Sector Expectations

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The theory suggests that the recent thrust in S&P earnings is driven by industrials adapting to global trends like AI and reshoring. The strength is observed in internationally focused industrials due to emerging markets, while domestically focused companies are lagging. Commodities and defense contractors are showing signs of improvement, with potential for increased spending in defense with a regime shift in the US. Additionally, there is an indication that real estate has been oversold.

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