Equities continued to rally on Wednesday with the S&P 500 and Dow Jones Industrial Average moving up to set new all-time highs. The moves are driven buy better than expected earnings from Verizon and other high-profile names despite the impacts of rampant inflation and system-wide supply chain disruptions. The NASDAQ Composite is trailing the other two indices and closed flat for the day.

Thursday?s action should be more of the same with reports due out from another handful of S&P 500 companies. The risk is the market may not be able to sustain new all-time highs in the face of mounting headwinds within the economy. No few companies have cut guidance despite the general strength being reported by the S&P 500.