⚠️US executives have rarely been this pessimistic about the economy

The economic outlook is getting worse

In partnership with

The ratio of S&P 500 companies' mentions of “better” or “stronger” versus “worse” or “weaker” during the Q1 2025 earnings call dropped to ~1,7x, the lowest level since the Great Financial Crisis.

Apple just secretly added Starlink satellite support to iPhones through iOS 18.3.

One of the biggest potential winners? Mode Mobile.

Mode’s EarnPhone already reaches +45M users that have earned over $325M, and that’s before global satellite coverage. With SpaceX eliminating "dead zones" worldwide, Mode's earning technology can now reach billions more.

Mode is now gearing up for a possible Nasdaq listing (ticker: MODE) but you can still invest in their pre-IPO offering at $0.26/share before their share price changes.

*An intent to IPO is no guarantee that an actual IPO will occur. Please read the offering circular and related risks at invest.modemobile.com.
*The Deloitte rankings are based on submitted applications and public company database research.

The ratio is even lower than in the 2020 Crisis.

By comparison, the ratio was 3.1x in the prior quarter, or nearly twice as high.

Companies’ commentary suggests that the economic activity and its outlook are deteriorating which will negatively impact future earnings.

Still, roughly 2/3 of S&P 500 companies have not reported their Q1 2025 results yet, so we should expect more insight in the upcoming weeks.

If you find it informative and helpful, you may consider a paid subscription (or annual if subscribed), become a Founding Member, and follow me on Twitter or Nostr: