(Bloomberg) -- Even as its companies likely failed to generate profit growth, the S&P 500 Index marched higher from April through June, capping the period just 1.5 percent below its record. With earnings season set to commence in a week, analysts currently predict profits in the benchmark contracted by 5.4 percent for a fifth straight quarterly drop. That'd be the longest streak since 2009, when companies saw earnings erode for more than two years amidst the financial crisis.
--With assistance from Joseph Ciolli and Wendy Soong To contact the reporter on this story: Bailey Lipschultz in New York at blipschultz@bloomberg.net. To contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Inyoung Hwang, John Shipman
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