The Wall Street Journal is reporting that profits are soaring at America’s biggest companies—and their leaders say that likely won’t change soon. From Target and J.M. Smucker to farm-equipment maker Deere, companies spanning the breadth of the U.S. economy are ringing up heftier sales and earnings. Many have raised financial outlooks for the year. Chalk the good times up to a confluence of fortunate events: red-hot AI spending, federal spending and the windfall companies are getting in the form of refunds of some of their past tariff payments. Plus, a booming stock market and high home values are helping many shoppers keep spending, even as plenty of others struggle to absorb rising prices. What are they buying? New appliances, toys and clothing.
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