As many as three-quarters of S&P 500-member companies have already reported earnings in the second quarter of the year, with 85 percent exceeding analyst expectations and beating the 76 percent 10-year average. More importantly, the results point to a sharp acceleration in profitability.
The most striking figure is the pace of profit growth. FactSet currently estimates 50.4 percent year-on-year earnings growth in the S&P 500 for the second quarter of the year, which would be the strongest...
