Although second quarter reports look strong, the economy may start to level out.

• Fear of an economic slowdown caused the stock markets to dip.
• Airlines are expected to make their first annual profit since 2007  due to fuller planes and higher fares.
• Stronger Asian economies are increasing exports, which helps struggling U.S. shipping companies.
• Despite all this, there has been poor job growth in the U.S in the past few months.

Facts and Figures

• New home sales fell 33%, and existing home sales fell 2.2%.
• Air shipments (mostly Asian exports) increased 30% from last year.

Best Quote

“Bottom line is earnings may hold up, but sales growth is slow and companies aren’t going to invest their record cash holdings until it improves.” – Howard Silverblatt, Senior Index Analyst of Standard & Poor