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Stock rally a dead cat bounce

August 2, 2022 - 11:45 -- Admin

Backward-looking earnings are fine. BofA: Better-than-feared 3% beat; guidance surprisingly positive279 S&P 500 companies comprising 71% of index earnings have reported. 2Q EPS is tracking a solid 3% beat at $56.87 vs. consensus $55.35, while 2H EPS has been revised down 2% since July 1. Overall, results were better than feared, especially with more above-consensus

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