How High Can Markets Climb Without Altitude Sickness?

This is our regular weekly market update, where we start in the US, cross to Europe and Asia and end in Australia, covering commodities and crypto along the way. It’s a complex trading environment out there, with on one hand Trump’s higher tariffs on imports from dozens of countries kicking in this week, while results from Tech were empathic. We have had results in now from more than 450 of S&P 500 companies, and estimated earnings growth for the second quarter was at 13.2% on Friday, up from 5.8% on July 1. Elsewhere, hopes of rate cuts in the US […]