Weekly Market Commentary

EARNINGS SEASON DELIVERED

Jeffrey Buchbinder, CFA, Chief Equity Strategist, LPL Financial

Second quarter earnings season, which winds down this week and next, has met some of the highest expectations. Strong beat rates, big upside earnings surprises, and increases in estimates during the past four weeks were consistent themes that gave investors very little to complain about. This is a big change from first quarter earnings season in April and May, which was more muddied by tariff uncertainty. What didn’t change this quarter? Artificial intelligence investment by mega cap technology was the key driver.

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