Here we are at the beginning of May, and suddenly people are noticing that "Hmmmmmm," earnings are coming in a little weak.
Well, it has been a mixed bag of economic news. The recent GDP number came in at 1.8%. Gas prices continue to climb. Apple and Exxon are making billions. It seems consumers are burning a lot of fuel driving around from Apple store to Apple store, trying to find an iPad 2.
So, the reason du jour for today's market action is weak earnings. But we've seen week earnings over the course of this earnings season, and it didn't matter until now.
What's different?
It's May! It's Sell in May and Go Away!
Okay. It's more complicated than that. It's an extended market, looking to a couple quarters down the road when the Fed starts to remove Quantitative Easing from the system. It's a market starting to wonder about year over year earnings comparisons with consumers spending more for fuel and having less to spend at stores and restaurants.
Whatever it is, it is.
And it just happens to be May.
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Taking a night off from working out. Did a lot of cycling over the weekend and yesterday. Yesterday started week 12 of my bodybuilding routine and had a great workout. Feeling a little spent and sore today, so giving the body a rest before hitting it again tomorrow.
Just sharing, but the 12-week routine has been great. If you're not hitting the weights, give it a try. See HomeGymFitness on YouTube for motivation and some ideas. Or read the Challenge Yourself book by Clarence Bass.