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Dorsey: How Earnings Can Do Well in a Weak Economy

Exposure to non-U.S. markets and business spending has boosted earnings, says Morningstar's Pat Dorsey. Plus: the big fly in the ointment for banks.

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Pat Dorsey: Hi, I'm Pat Dorsey, director of equity research at Morningstar. With earnings season winding down, it's worth taking a look back and seeing what we now know. Earnings season is always a good time to check in on the bottom-up health of the economy.

You get these macro level data points every week, whether it's the labor report or inflation, or this or that, and the various pundits seize on these to make giant sweeping conclusions.

Pat Dorsey does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.