3M Company

Stocks cruised to yet another set of record highs last week on strong earnings from Caterpillar Inc. and 3M Co., in particular. Materials and information technology were key with better-than-expected earnings, strong results, and even stronger guidance (meaning what they see ahead).

As of the time I'm writing this, 77% of companies reporting have beaten expectations, and 79% have beaten revenue estimates – both according to FactSet.

I'm not surprised – and you shouldn't be either – considering that we laid out this scenario months ago, and we've been preparing for this for years with all manner of profitable recommendations.

At the risk of sounding like a broken record, growth will continue to be faster and stronger than many people expect – which is going to put the markets and most investors in a position of having to play catch up.

That's great for your money because it means the most hated bull market in history can go a lot higher. I think we're talking Dow 60,000 within a decade for reasons I laid out in an article you're going to want to read if you haven't already.

In the meantime, there's one sector attracting more money faster than all the rest.