The first household name to report earnings this season is, of all things, Pepsi. And, in keeping with the 2023 theme, it is vaulting higher.
![](https://slopeofhope.com/wp-content/uploads/2023/07/pepsilo-640x601.png)
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The first household name to report earnings this season is, of all things, Pepsi. And, in keeping with the 2023 theme, it is vaulting higher.
What a relief that we’re going to have something – – anything!! – – apart from federal government nonsense that’ll move the markets. No FOMC. No fake CPI data. No Powell testimony. Just good old fashioned earnings season will kick off within hours………
Bears need some loving, so here’s a data set that might already have started the countdown to at least a major correction, if not a bear market.
Construction in the manufacturing sector has been extremely cyclical in the past. The past 3 major tops came in 2008, 2015 and possibly now. May data (released on July 3) is below that of April.