Shrinking Profits No Roadblock to S&P 500’s Climb Higher: Chart

Even as its companies likely failed to generate profit growth, the S&P 500 Index marched higher from April through June, capping the period just 1.5 percent below its record. With earnings season set to commence in a week, analysts currently predict profits in the benchmark contracted by 5.4 percent for a fifth straight quarterly drop. That’d be the longest streak since 2009, when companies saw earnings erode for more than two years amidst the financial crisis.

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