http://finance.yahoo.com/news/Dow-moves-higher-nears-10000-apf-3921032132.html?x=0&sec=topStories&pos=main&asset=&ccode=
We're closing in on 10,000 today on the Dow. All ahead of a week that could prove to be a turning point. Earnings releases are coming out across the board this week. On Thursday Goldman Sachs will release earnings, in what is expected to be a blowout. The market has already seen surprises around the world from companies like Philips Electronics.
Above average earnings are a good reason for markets to rise. The other side to the ticket is where the earnings boosts come from. When they come from higher revenue it's usually seen as a win, but as of late most earnings growth has come from cost cutting. If companies project a bleak outlook after releasing good earnings we are still apt to see a dive.
The clock is ticking and the money is flowing. What will we see this week? Maybe earnings will be as big of a surprise as last week's Nobel Peace Prize winner.
Monday, October 12, 2009
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It is good news considering usually the market is sluggish this time of year. But hey If Obama can with the Peace Prize only with 12 days on the job(when he was recommended) and not actually doing anything to further peace anything is possible.
ReplyDeleteOh anything is possible is right. We've already seen some good earnings come out and drive prices up even further. GS is due out tomorrow at the bell. Google reports tomorrow as well.
ReplyDeleteWe had good reports from Intel and JP Morgan this morning which have helped boost the market ever closer to that 10,000 mark.
Yea that selection confused me....maybe it was just a down year for peace. I dont't want to knock the guy but I think Michael is right, maybe a few more hours in office could have convinced me.
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