Earnings in the tech stocks like IBM, Apple and Amazon have been fairly robust, but sales have generally been buoyed by foreign buying. I think in IBM's case, for example, the mainframe revenues were slightly more than 50 percent from offshore. Health stocks seem to have held up too, but haven't really looked at them.
With US financials, automakers and bricks and mortar retailers (Macy's as an example) the earnings haven't been so hot.
