q3 earnings results
If you want more evidence that the U.S. stock market is disconnected from the actual economy, you only need to look at its performance during the third-quarter earnings season.
Since earnings season began in early October, the Standard & Poor's 500 Index, Dow Jones Industrial Average, and NASDAQ Composite Index have climbed 5.7%, 5.2%, and 6.1%, respectively. The S&P has recently closed with consecutive record highs for four trading sessions and ended above the previous close on 13 of the last 17 trading sessions.
But the actual earnings results don't support this trend.Here's what's going on - and what you should do about it...