S&P Returns To Record Highs

The S&P’s fresh record comes after second-quarter earnings season has basically wrapped up, while some easing trade tensions also supported the markets with China and the U.S. meeting to discuss trade after a tit-for-tat tariff exchange.

When it comes to corporate results, expectations were high going into the second-quarter earnings season, and even those lofty expectations were surpassed.

S&P 500 companies experienced a 24.6% increase in earnings year-over-year, with the energy sector leading the charge. Energy companies’ earnings increased 123.1%, year-over-year, According to Thomson Reuters’ Aug. 20 earnings scorecard. Materials sector companies saw a 40% increase in earnings and financials a 27.4%.

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