However several analysts and indices argue that many times deeper than average recessions are followed by significant economic rebounds.
As this current earnings seasons begins, Intel agrees. On Tuesday the technology leader boosted its formal guidance for revenue in this quarter by $1B beyond consensus estimates. The strong third quarter prediction follows a 12 percent jump in second-quarter sales from Q1 results. It was Intel's largest quarterly sequential increase in sales since 1988.
"It was a superb quarter for them." said Patrick Wang, a New York-based analyst at Wedbush Morgan Securities. "Intel’s results reflect the stabilizing environment."
Intel's stock was up significantly in after hours trading. US stock futures also jumped late Tuesday and trading in Asian markets rallied strongly early Wednesday morning.
With initial unemployment claims at their lowest level since January, investors positioning capital for commercial real estate buys, and firms like Alcoa and Intel shattering earnings and revenue estimates, it appears that this recovery could be anything but lusterless.