US stocks ignore stellar earnings growth

US companies are posting robust earnings, but the stock market doesn't seem to be factoring in that optimism. Alex Rankine looks at why that is.

McDonalds
The US economy grew at an annualised rate of 6.5% in Q2 2021 as restrictions were lifted and consumers spent their government-funded stimulus cheques.
(Image credit: © Alamy)

American companies are posting “stellar results”, but the stockmarket has reacted with a shrug, says Patrick Mathurin in the Financial Times.

Most have now reported their second-quarter earnings.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.