As investors brace for the peak weeks of earnings, both the Dow and S&P marched higher on hopes that stability had returned to the financial system.
This is nothing but a relief rally in a secular bear market and we’ll be in a secular bear market for another 10 to 15 years, said David Hefty, principal of Cornerstone Wealth Management.
A strong start for stocks began to peter out Monday, though CIT continued to rally.
There's not much economic news this week. Leading Economic Indicators will be reported Monday and if it's a gain (which it should be) it will be the third gain in a row. That would be good. Thursday will see existing home sales reported and they should come in at an annual rate of about 5 million. Thursday the Treasury will announce next week's bond auctions and you can expect 2 year notes and 5 and 7 year bonds totaling over $100 billion dollars.
The current mid-summer rally will last until the end of August, but trading volumes will be light with many investors on holiday, Robin Griffiths, technical strategist at Cazenove Capital told CNBC Monday.
As of this past Friday, just over 10% of the S&P 500 companies had reported earnings. This week we will see roughly 30% more of the S&P report. Here's a look at which companies have had the biggest surprises so far...
So far, earnings this quarter have painted a mixed picture, some good some bad, but they're far from the disaster some had feared.
On a week where earnings dominated headlines with a strong performance by tech, the US markets rallied for the week, led by the Nasdaq Composite, up 7.44%. The NASDAQ pulled out 8-straight days of gains, for a gain of 8.04% in the past eight trading sessions.
Expectations are high for Apple Inc.'s quarterly results next week, in the wake of strong early sales for its new iPhone and improved sentiment on the personal computer market after Intel Corp.'s earnings.
Earnings season got off to a better-than-expected start this week, fueling optimism that stocks may continue to bounce back from the recent pullback.
Even though only 11 percent of the S&P 500 has reported second-quarter earnings so far, it's probably not too early to say we've seen the best of this earnings season.
Earnings from General Electric, Bank of America and Citigroup Friday will determine whether the market keeps the week's winning streak going.
With Apple and Yahoo! reporting Tuesday and Microsoft next Thursday, will tech earnings keep the rally going?
After Intel's big beat earlier in the week, the pressure was on IBM to beat, and beat big, and the company answered. Big.
The numbers from Google are pretty stellar: the company reported $5.36 a share against the $5.05 consensus. That news came on better than expected revenue of $4.07 billion, versus the $4.05 anticipated.
Stocks closed higher after a staging a late rally triggered partly by positive comments from the economist known as "Doctor Doom."
Stocks were moving sideways...until midday, when famously bearish economist Nouriel Roubini came out and said that the "worst is behind us in terms of economic and financial conditions." The Dow rallied over 100 points on that news... A rally on that? But Roubini was famously bearish at the right moment several years ago, and is widely followed. Roubini less bearish is notable news.
Can IBM keep the good news coming with earnings after the bell tonight? Intel started all this, and there's every indication that IBM should help it continue.
Harris Private Bank chief investment officer Jack Ablin says there are signs the stock market just might be setting up for a big run up....One indicator he is watching is momentum.
Stocks are roaring this week. A 6 percent surge is being fueled by better-than-expected earnings — profits that make capitalism go. Earlier this morning, on the heels of stellar results from Goldman Sachs and Intel, JPMorgan Chase announced record net revenues that easily beat analyst estimates. The bank’s second-quarter profits rose 36 percent from a year earlier.