As earnings seasons gets under way in earnest and the 1st August tariff deadline approaches Michael Brown (Senior Market Strategist from Pepperstone) and Michael Hewson discuss the drivers of company outperformance which is driving the FTSE 100, and US markets to new record highs. We look back at earnings announcements from the likes of NatWest, Barclays, Rolls-Royce, as well as Microsoft and Meta all of which have driven this week’s gains as well as looking ahead to the Bank of England next week.