U.S. GDP at 3.1% But Slashed Corporate Profits Worrisome

We saw the third estimate of U.S. second quarter GDP Thursday which was higher at 3.1% up from the second estimate of +3.0% and the first estimate of +2.6%. However corporate profits after tax were revised to +0.1% from +0.8% is worrisome particuarly with stock markets at all time highs.