Chart of the Month | June 2024

Despite higher interest rates and other economic concerns, corporate earnings for large public companies have grown 5.4% over the last year. This has been driven primarily by two factors: strong consumer spending and companies protecting their margins despite the spike in inflation over the last three years. In short, the market weighs earnings over the long-term, and the world-class businesses within the S&P 500 Index have continued to deliver amid multiple headwinds.