Fundamental analysis
30 July, 2021
U.S. stocks ended higher on Thursday, boosted by robust U.S. earnings and forecasts, while data showed the U.S. economy was above its pre-pandemic level. The U.S. economy grew solidly in the second quarter, putting the level of gross domestic product above its pre-pandemic peak, but the pace of GDP growth was slower than economists had expected. Stocks were boosted on Wednesday after the Fed said it was not yet time to start withdrawing its massive monetary stimulus. About half of the S&P 500 companies had reported second-quarter earnings as of Thursday morning. Nearly 91% of those companies beat profit estimates, and second-quarter earnings now are expected to have jumped 87.2% from a year ago, according to Refinitiv data.
