Family, last Friday's US stock market was quite impressive! The Nasdaq and S&P 500 indexes either closed at historical highs or were just a tiny bit away from new highs, all supported by investors' renewed optimism about the US economy and corporate profits.

Looking at the earnings reports, 12% of the S&P 500 constituents have already released their second-quarter results, with 83% of earnings exceeding expectations, which is quite a good ratio. Moreover, the expected growth in corporate earnings for the second quarter has also been revised upward, rising from 4.9% at the end of June to 5.6%, showing a positive momentum. It is worth mentioning that among the main drivers of earnings growth, three are the 'Seven Giants' of American technology, and their average earnings growth rate for the second quarter is estimated to soar to 14%, which clearly indicates that technology leading companies, driven by artificial intelligence, continue to have strong earning capabilities.

Good news has also come from economic data. The University of Michigan's consumer confidence index for July rose from last month's 60.7 to 61.8, not only exceeding the market expectation of 61.5 but also reaching a new high in nearly five months. Why this positive change? Mainly because people are becoming increasingly optimistic about the economic outlook, and expectations for inflation are also gradually improving, leading to a greater sense of security.