Everything’s Just Rosy

(1) Everything is just swell too. (2) Cyclicals confirming global boom with performance and earnings growth. (3) An earnings-led meltup isn’t a meltup. It’s a bull market. (4) Capital spending rises to record high. (5) Spending on manufacturing structures is weak, but industrial equipment spending is at a record high. (6) Spending on IT equipment and software continues to soar into record-high territory. (7) Caterpillar operating on all cylinders, while Union Pacific is chugging along, and GE is sputtering. (8) Movie review: “The Foreigner” (+ +).