S&P

The end of stock market corrections

Illustration: Eniola Odetunde/Axios

Normally the health of business drives a country's asset prices, but that's not what's happening at the moment, according to Deutsche Bank Securities chief economist Torsten Slok.

What's happening: The S&P 500 has risen by around 20% so far this year, despite weakening U.S. economic data and a slowing labor market. Earnings growth, typically the bread and butter of equity market returns, was negative in the second quarter and is expected to be negative in the third and fourth quarters as well.

63% of directors say investors pay too much attention to corporate board gender diversity

The fearless girl statue at the New York Stock Exchange on an overcast day.
Photo: Johannes Eisele/AFP/Getty Images

Corporate directors believe that gender diversity on corporate boards is beneficial, but most think the issue gets too much attention from shareholders, according to PwC's latest Corporate Directors Survey.

Why it matters: That sentiment became much more prominent in the last year. 63% of directors say investors devote too much attention to board gender diversity — compared to just 35% who said so in 2018.