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Sep 04 2026
The Leuthold Refresh

S&P 500 Earnings Waterfall 2Q 2026

  • Sep 4, 2026

S&P 500 earnings, excluding Financials and Real Estate, grew 66% year-over-year, a result that wouldn’t be surprising coming out of a deep recession, but is almost incomprehensible in the middle of an economic expansion.

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About The Author

Scott Opsal / Director of Investment Strategies

Scott Opsal Director of Investment Strategies

Scott oversees asset allocation, investment policies, and team coordination. He also conducts in-depth research using fundamental and quantitative analyses to support the firm’s portfolio and strategy recommendations.

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