<div id="readability-page-1"><div><div><p>The second-quarter earnings season is about two-thirds complete, with 317 S&amp;P 500 companies having reported as of Friday morning.So far, 83% have exceeded profit expectations, with revenues coming in 2.6% above Wall Street estimates and earnings surprising to the upside by 8.3%.On the surface, the results paint a solid picture, butbeneath the headline strength, <strong>Goldman Sachs consumer specialist Scott Feiler has spotted emerging cracks in the consumer sector</strong>.</p><p>Feiler told clients Friday that a &#34;<strong>common theme is emerging in consumer:Whether results are good or bad, almost all stocks are fading quickly post the open on EPS days. They are generally continuing lower in the days after results as well</strong>.&#34; He noted there are exceptions, includinghousing-exposed names or select outperformers.</p><p>This fading price action in consumer stocks may only suggest a<strong>tactical &#34;sell-the-news&#34; market environment</strong>.Feiler added some color around the fades:</p></div></div></div>

高盛

<p>高盛的消费品专家斯科特·费勒对消费股在强劲的第二季度财报发布后出现下滑表示惊讶。尽管有 83% 的标准普尔 500 公司超出了盈利预期，费勒指出，股票在财报发布后逐渐下滑的趋势，表明市场可能存在 “卖消息” 的环境。他强调，尽管某些行业如住房表现出韧性，但整体消费行业在财报结果发布后正面临下行压力</p>

高盛对消费类股票在财报发布后下滑感到 “意外”