We’re well into second quarter earnings reports, and in the U.S. the results have been nothing short of spectacular, which is driving U.S. stock indices to new all-time record highs.
Led by Boeing and AT&T Wednesday morning, and following huge bottom line surges by the major U.S. banks, investors are getting a magnificent ride as all three major indices, the DOW, the S&P 500, and NASDAQ all opened in record territory.
And no wonder: those earnings have gained 9.1 per cent in the quarter over the same period last year.
This, as the morning report saw Boeing’s shares rise 6.5 per cent after reporting a handsome quarterly profit, and the plane maker raised its full-year core profit forecast.
AT&T was up 4.1 per cent after the wireless carrier’s quarterly profit topped estimates.
As for the TSX, it continues to struggle along, moving sideways at best.