Preliminary numbers suggest that spending grew at a 5%-6% annual rate in the second quarter. With inflation close to 1%, it means that real growth was roughly in the vicinity of 4%-5%. Moreover, fairly strong numbers for new orders suggest that the economy will continue to expand in period immediately ahead.
The economic numbers tell us where the economy has been. Stock prices often tell us where investors expect the economy to go. One of the reasons that stock prices often respond positively or negatively in advance of the economy is because stock prices are more sensitive to monetary policy changes than the overall economy.