Back-to-Back Weekly Gains
The S&P 500 posted broad gains last week, closing at record highs all five days to cap its longest sustained daily winning streak since November. Stocks benefited from progress on trade deals, positive economic data and corporate earnings resilience. Second quarter earnings are beating estimates by 6.2% in aggregate, with over 80% of S&P 500 companies surpassing profit estimates, according to Bloomberg.
The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.