One after another, companies reporting results this earnings season have generally beat expectations. In response, investors pushed markets to levels not seen since the financial crisis. The S&P 500 is coming off an eight-session winning streak, the longest in eight years, capped by a close above 1,500 on Friday for the first time in more than five years.

In this video, MSN Money's Charley Blaine discusses the earnings season so far, the market's performance and his expectations for both the economy and stocks.

So far, about 150 S&P 500 companies have reported quarterly results, with 67% beating analyst estimates, Business Insider reports. Yes, even Apple (AAPL), whose stock tanked after its quarterly report, beat earnings-per-share estimates.

Only some 20% of reporting companies thus far have missed the Street's expectations. Compare that to the same period last year, when 62% beat estimates and 28% missed.

Indeed, Blaine says, the front end of the season has gone nicely and no one was expecting it. Banks, tech stocks and others have surprised investors with strong results. But Blaine warns the back end of the earnings season doesn't always go as smoothly.

Other reasons for the market's strong performance, says Blaine, include strong housing data, a less-dire situation abroad and continued low interest rates.

Blaine explains what this all means for the economy as well as how to benefit from the trends he identifies in the video.

The discussion about the earnings season continues over in MSN Money's Facebook community.

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