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Stocks Head For Best Month Since Oct 2011 As US Macro Crashes To 12-Month Lows

US Macro data has collapsed to 12-month lows with 38 data 'misses' and only 6 'beats. Earnings expectations have plunged most since Lehman (over 5% in the last 3 months) hovering at 10-month lows. So it makes perfect sense that, unless we see a late-day collapse today, the S&P 500 will post the best monthly performance since October 2011.

 

Macro...

 

Earnings...

 

February...

MISS

  • Personal Spending
  • Construction Spending
  • ISM New York
  • Factory Orders
  • Ward's Domestic Vehicle Sales
  • ADP Employment
  • Challenger Job Cuts
  • Initial Jobless Claims
  • Nonfarm Productivity
  • Trade Balance
  • Unemployment Rate
  • Labor Market Conditions Index
  • NFIB Small Business Optimism
  • Wholesale Inventories
  • Wholesale Sales
  • IBD Economic Optimism
  • Mortgage Apps
  • Retail Sales
  • Bloomberg Consumer Comfort
  • Business Inventories
  • UMich Consumer Sentiment
  • Empire Manufacturing
  • NAHB Homebuilder Confidence
  • Housing Starts
  • Building Permits
  • PPI
  • Industrial Production
  • Capacity Utilization
  • Manufacturing Production
  • Dallas Fed
  • Chicago Fed NAI
  • Existing Home Sales
  • Consumer Confidence
  • Richmond Fed
  • Personal Consumption
  • ISM Milwaukee
  • Chicago PMI
  • Pending Home Sales

BEAT

  • Personal Income
  • Markit Services PMI
  • Nonfarm Payrolls
  • JOLTS
  • Case-Shiller Home Price
  • Q4 GDP Revision (but notably lower)

*  *  *

But apart from that... everything is awesome.