<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>

<p>Goldman Sachs consumer specialist Scott Feiler expressed surprise at the decline of consumer stocks following strong second-quarter earnings reports. Despite 83% of S&P 500 companies exceeding profit expectations, Feiler noted a trend of stocks fading post-earnings announcements, indicating a potential "sell-the-news" market environment. He highlighted that while some sectors, like housing, show resilience, the overall consumer sector is experiencing downward pressure after earnings results.</p>

Goldman "Surprised" By Consumer Stocks Sliding After Earnings