Good Earnings Will Push the Market Higher Today!
As I mentioned in yesterday's comments, a light economic calendar and successful bond auctions in Europe would be market friendly. These two sources of negative information are absent this week. Overnight, Apple smashed estimates and the stock was up $10 after hours. This morning, Morgan Stanley, Wells Fargo and U.S. Bancorp all posted good results and the stocks are rallying. The financial sector has been bracing itself for negative earnings and they weren't as bad as expected. Coca-Cola is also up in early trading. United healthcare also posted excellent earnings and that should help health-care stocks. With earnings being the focal …
July 21, 2010
• Posted in: Options
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