BREAKINGVIEWS-Blowout US earnings veil a turning economic tide

S&P 500 index

S&P 500 index

SPX

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Sebastian Pellejero

NEW YORK, May 12 (Reuters Breakingviews) - Corporate America is booming. Even excluding tech giants, earnings for the rest of the S&P 500 are up over 17%, the best pace since 2021. Yet the result is flattered by a weak dollar, tariff refunds and roaring AI investments. These boons will fade as consumers face a new crunch.

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The S&P 500 Index hit an all-time high on May 11, when it closed at 7,412.84.


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