Perpetual Tourist
Incoming Earnings Buoy Stocks (Bloomberg)
Most stocks rose today as earnings continued to pour in from a plethora of publicly traded companies. Twenty-five companies report earnings today, including those reporting after the market closes. 70 percent of the 81 companies which have already reported earnings this season have beaten profit estimates. “Earnings are all that matters,” Dan Morris, global investment strategist at TIAA-CREF Asset Management in New York, said. “To see the justification for meaningful higher prices, we just need to wait for earnings to catch up and accelerate a bit and that may take a quarter or two.”
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