PCA Week in Review - Friday, August 5, 2022

This week in the Review:

1. Earnings Season and Forward Guidance Surpassing Low Expectations

• • 74% of the S&P 500 have reported Q2 earnings
  • Earnings have surprised to the upside
  • Winners and Losers 

     2. Financial Markets Remain Reasonably Valued by Morningstar

• • Morningstar price to fair value
  • Headwinds of slower growth expectations and inflation could shift and turn to tailwinds.