Positive Economic Data and Corporate Earnings Push S&P 500 to New Records
Global equity markets discounted ongoing geopolitical risks and instead responded to positive economic data that signal continued health in the global economy and stronger global growth. This combination is expected to boost corporate profits that have already gained more than 10% in the first and second quarters of the year, although the pace of profit growth may decelerate. Against this backdrop, the S&P 500 Index was driven to new records as share prices of energy, industrial firms and banks revived during the month of September. After lagging behind for much of this year, small-capitalization stocks also picked up momentum. The S&P 500 added 2.06% during another low volatility month.
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