The biggest bullish influence on the equity markets — earnings growth — is kicking into high gear as we approach mid-year, in a clear signal that the now 8-year-long bull market is probably far from over.
According to analysts at Morgan Stanley, profit expansion within the S&P 500 is growing at its best rate in nearly six years. Specifically, ratio of of companies raising internal earnings estimates versus those lowering future earnings expectations is reaching its highest level since 2012.