Earnings season was a better guide to the economy than the data ...Middle East

The great stock market turnaround in August was impressive in many ways but when I take a step back, there was one big question being asked and answered: Is the Fed behind the curve?Within that question is a set of assumptions about the US economy and if you look at the economic data, there was cause for concern. The ISM services index in June fell to the lowest since 2020, global commodity prices have been falling and US unemployment has been rising.A big boost for US stocks came on strong retail sales data but when I survey the picture of US data over the past two months, there's no clear trend. What was clear though was corporate America.Scotia here highlights how rarely 'recession' was m

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