The year-on-year growth rate of profits for the components of the S&P 500 index in the second quarter is expected to reach 47.4%, setting a five-year high.

U.S. companies are successively announcing their second-quarter earnings reports. According to data from FactSet, a U.S. financial data and analytics software provider, based on the earnings reports that have been released and analysts' forecasts for companies yet to report, the earnings of S&P 500 constituent companies are expected to achieve a year-on-year growth of 47.4% this quarter. This would mark the strongest quarter of earnings growth in the past five years. Among the 158 U.S. companies that have reported, 123 exceeded market expectations, 34 fell short, and 1 was flat. Overall, 138 companies achieved year-on-year revenue growth. Hugh Gimber, a global market strategist at JPMorgan, stated that the performance of U.S. companies is very robust, as the data released by businesses indicates a very positive trend in recent weeks. Although the technology sector is again leading the way, more industries are contributing to the growth.