Stock Market Update

The stock market remains on track to push further into record territory this morning as strong earnings growth continue to be a driving factor.

Second-quarter earnings have been considerably stronger than expected. According to FactSet, the blended earnings growth rate for the S&P 500 stands at 50.1%, far above the 18.3% growth rate analysts projected at the end of the first quarter. While unusually large gains on equity investments at several companies have inflated the headline figure, underlying earnings growth is still comfortably exceeding expectations.