The stock market and the economy are diverging 📊

The S&P 500's fundamentals are outperforming 📈

The U.S. stock market and the U.S. economy are intertwined. But they are not reflective of all the same fundamental forces.

Goldman Sachs’ Ronnie Walker discussed this in a new research note reviewing Q2 earnings season. From the section titled, “A Divergence Between Corporate Revenues and Economywide Activity” (emphasis added):