How many times have you heard me say that profits are the mother’s milk of stocks, business success, and job creation?
Well, they remain the story of the day.
S&P earnings look to rise about 45 percent in the first quarter, with earnings estimates pegged at a 9 percent gain in April to lead off the second quarter.
Meanwhile, Chevron reported better-than-expected profits this morning, on top of yesterday’s positive results from Conoco, Motorola, and Starwood Hotels. (Stocks are taking a breather this morning, after posting their best rally in two months yesterday.)