Deep Dive: Trump is right about record earnings — and these companies are getting even more profitable

President Trump made a bold claim Tuesday, using Twitter to quote Fox Business host Stuart Varney:

“Corporations have NEVER made as much money as they are making now.” Thank you Stuart Varney @foxandfriends Jobs are starting to roar,watch!

— Donald J. Trump (@realDonaldTrump) August 1, 2017

The S&P 500 Index trades for 18.8 times aggregate consensus earnings estimates for the current year, the highest it’s been in this eight-year bull market. So to support stock prices at this stage of the cycle, S&P 500 SPX, +0.19% companies had better be on pace to set record earnings.

As president for less than seven months, Trump can’t take credit for the U.S.

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