Second-Quarter Earnings Season in Full Swing

Stocks were mixed on Friday as the Dow Jones Industrial Average managed a 0.2% rise, but the Nasdaq Composite and S&P 500 both fell fractionally by 0.1%. Everyday can’t be one of growth and, frankly, we don’t think that is healthy for a sustainable market. Looking past daily market movement, second-quarter GDP was in line with the consensus at 2.6%, more than double first-quarter results. This data presents a solid rebound but remains short of President Trump’s target of 3 to 4%. Year-to-date, things are still looking good and stocks remain stronger relative to bonds.

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