Nov 11, 2017

Why the Trump rally might last

Photo: Elizabeth Robertson / The Philadelphia Inquirer via AP

The Standard & Poor's 500 index, the broadest measure of the stock market, notched 61 record highs and climbed about 21.3% in the first year since Trump was elected president, AP's Alex Veiga writes. But what's really interesting is the reason — and it's not just tax-cut expectations.

Be smart: "[T]he biggest driver of the market's gains has been strong corporate profits, Wall Street analysts say.""[M]ore companies than usual are ... reporting higher [earnings and] revenue than analysts had forecast.""Stock prices tend to track corporate profits over the long term, so the better-than-expected earnings growth helps to validate the stock market's record-setting run, at least somewhat.""Investors have also continued to bet big on economic growth in the U.S. and worldwide as economies in Europe and Asia have bounced back.""Since Trump's election, technology companies have led the way with a 39% surge. Banks and industrial and basic materials companies have also soared. Only phone company stocks are down from a year ago."

Go deeper

Pandemic and protests can't stop the stock market

Traders work on the floor of the NYSE. Photo: Spencer Platt/Getty Images.

United States equities were on pace to open higher Monday following big gains in Asia and Europe and a risk-on bid in currency markets.

Why it matters: Stock markets could continue to rise despite an unprecedented global pandemic, violent protests over police violence in the U.S. not seen since the 1960s, and spiking tensions between the world's two largest economies.

2 hours ago - Sports

The sports world speaks up about death of George Floyd

Celtics guard Jaylen Brown. Screenshot: Jaylen Brown/Instagram

There was a time when a months-long sports absence would have silenced athletes, leaving them without a platform to reach fans or make their voices heard.

Why it matters: But now that athletes boast massive social media followings and no longer need live game broadcasts or media outlets to reach millions, they're speaking out en masse amid protests over the death of George Floyd and other police-related killings of black people — delivering messages of frustration and unity, despite their leagues not currently operating.

The technology of witnessing brutality

Charging Alabama state troopers pass by fallen demonstrators in Selma on March 7, 1965. Photo: Bettmann/Getty Images

The ways Americans capture and share records of racist violence and police misconduct keep changing, but the pain of the underlying injustices they chronicle remains a stubborn constant.

Driving the news: After George Floyd's death at the hands of Minneapolis police sparked wide protests, Minnesota Gov. Tim Walz said, “Thank God a young person had a camera to video it."