Quant Ratings Updated on 85 Stocks Optimism is spreading throughout Wall Street, as investors continue to cheer positive quarterly results, better-than-expected inflation data and a rosier economic outlook. In fact, the SP 500, Dow and NASDAQ climbed more than 3% higher last week. The reality is the second-quarter earnings season is proving to be a strong one. 87% of SP 500 companies have reported their latest quarterly results, and, according to FactSet, 75% have posted an earnings surprise and 70% have posted a revenue surprise. In addition, the current earnings growth rate now stands at 6.7% and the revenue growth rate is 13.6%. As I mentioned last week , the Consumer Price Index ( CPI ) was unchanged at 0% in July, which was much better than economists’ consensus expectation of a 0.2%. In the past 12 months, the CPI decelerated from a 9.1% annual pace in June to an 8.5% annual pace in July. The core CPI, which excludes food and energy, rose 0.3% in July and 5.9% in the past 12 months. The Producer Price Index (PPI) also showed that inflation is tapping the brakes.