President Trump’s tax reform assuming corporate tax cut became a gift for companies that closed second quarter with earnings growth above 20%, Bloomberg reports. However, even without taking into account reform, profitability picture would be better than in previous years, analytics think.

According to Credit Suisse’s estimate, tax cut caused earning per share increase by 8%. As growth of this indicator was 25,5% in second quarter, then not taking into account tax reduction influence, earning per share grew 17,6%. This is still the highest pace since 2011.

On Tuesday S&P 500 was stable exceeding for some time 2900 first time in history. As earnings season comes to end and negotiations between the US and Mexico succeed, investors drive shares growth to record levels. Russel and Nasdaq also closed on Monday at record highs, while Dow exceeded 26000 level first time since February.