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S&P 500 earnings growth is now tracking to +24.6% year over year for the second quarter. Revenue growth is tracking to +9.4% year over year. (LPL)

The Conference Board's Leading Economic Index increased 0.6% in July, its 26th consecutive monthly gain.  The LEI, which is a composite of 10 economic indicators (like manufacturers' new orders, stock prices, and weekly unemployment claims), shows that the economic expansion is still intact and healthy. The LEI is up 6.3% year over year. The longer-term trend in the LEI is especially important, as the LEI has turned negative YOY before every economic recession dating back to the 1970s. (LPL)

Guinness is opening the $90 million Guinness Open Gate Brewery & Barrel House Aug. 3 near Baltimore, its first U.S. brewery in more than 60 years. The attraction is expected to host 300,000 visitors a year. (CNBC)

Constellation Brands who for seven decades has made its money off beer, wine and whiskey, sees its future in marijuana. They will spend about $3.8 billion to boost its stake in Canadian grower Canopy Growth Corp., betting legalization will gain traction around the world and especially in the U.S. (FBN)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.                                     
 

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