Chart of the Day
Over the past few months, investors have focused much of their attention on the Iraqi crisis. Eventually, that focus will shift to other issues such as earnings. As you can see from today's chart, S&P 500 reported trailing 12-month earnings have declined recently and are currently at $28. Not a very impressive performance by corporate America. This is especially true when you consider that inflation-adjusted earnings first surpassed $28 back in 1965!
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