We check in on three data points: Q2 corporate earnings, the consumer price index, and the unemployment rate. A common theme is that levels are ahead of expectation. 

• Most companies of the S&P 500 index have reported earnings. Overall the results are strong on revenue growth and earnings.

• While we may still see prices increase for certain goods, we expect to see the year-over-year rate level off moving forward.

• The unemployment rate fell from 5.9 percent to 5.4 percent, as reported in July jobs data. Job openings and hiring are encouraging signs of economic recovery.

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