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The economy is rebounding. Need proof? Check out the first quarter earnings reports corporate America is releasing, which show S&P 500 companies are on track for their highest rate of profit growth in more than a decade.
Earnings aren’t the only reason to feel optimistic. More than 55% of Americans have received at least one dose of a Covid-19 vaccine as of late April. The number of people filing for initial unemployment claims reached a new pandemic low of 553,000 in the third week of April, a fraction of the 3.5 million tally a year ago. Consumers are feeling more upbeat, with confidence edging past pre-lockdown levels, according to the weekly Ipsos-Forbes Advisor U.S. Consumer Confidence Tracker.
Unsurprisingly, stock prices have…