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Despite negative economic indicators like hotter-than-expected inflation data, weak retail sales, and the possibility of a trade war, the stock market is experiencing a resilient rally. This is attributed to strong corporate earnings, a surprisingly robust economy, and a belief that the impact of potential tariffs will be limited.
- S&P near new closing high despite negative news.
- Strong corporate earnings (15.3% growth).
- Economy doing okay (2.9% GDP, low initial claims, narrow credit spreads).
- Tariffs being slow-walked to avoid further inflation.
- Broadening earnings picture across various sectors.
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