Corning stock softened in early morning trading despite reporting better-than-expected second-quarter earnings on Monday.
Corporate earnings will serve as a tailwind for the stock market in the week ahead, but gains could be constrained after an 11 percent run in just two weeks.
Congress has increased the cost of unskilled labor by 10.7% in the middle of the worst recession since the early 1980s...It is unclear how this is supposed to help the economy – unless you are Labor Secretary Solis or the Economic Policy Institute, writes William Dunkelberg, Economics Professor at Temple University.
Thursday's continued string of better than expected earnings reports plus a better number on existing home sales encouraged the bulls and scared the shorts. 3M, Qualcomm, Bristol Meyers, Ford and McDonald's all did better than expected and they represent quite a cross section of industries. But I am still troubled by the fact that revenue growth is lacking and the better earnings are coming from cost cutting which can only go on for so long. I remain cautious.
Stocks could stumble Friday as investors reassess the market's rapid run, and declines in American Express and Microsoft weigh on the Dow.
The busiest day yet for second quarter earnings reports could put some juice back into the stock market Thursday.
You know the sound that a large truck makes when it backs up? Beep-beep-beep. Well that sounds like what's coming out of Congress since the nonpartisan Congressional Budget Office said it didn't see any savings in the health care proposals but rather an increase in the deficit of a potential $230 billion.