Bloomberg Surveillance · Tuesday, August 4, 2026
David Levitz of JP Morgan Asset Management stated that corporate profits are showing strong growth, with earnings up 30% even excluding equity investment gains. He believes the AI trade is broadening out from just tech into the manufacturing and industrial sectors, making it a more durable economic driver rather than a temporary trend.
“even if you exclude the equity investment gains from the overall earning season number, you're still looking at earnings growth of thirty percent, and so these are just unequivocally good numbers.”
“You're seeing this AI trade broaden out. You're seeing a show up in the manufacturing economy, the industrial economy, the real economy at the end of the day, and that's what's giving this story legs, right, That's what's making it a more durable trade.”
“This is really something that's transforming the growth rate and the growth trajectory of the US economy.”