Market rises on good earnings

by Laura Ehrenberg-Chesler on April 21, 2011

in Earnings,Energy,Foreign Markets

On Monday of this week S&P downgraded their outlook for U.S. sovereign debt to “negative” from “stable”. The news roiled markets around the world. Fast forward

two days later and the equity markets across the globe have shrugged off the news and rebounded smartly. On Tuesday and Wednesday we had a slew of good earning reports from the likes of IBM, Intel, American Express, and Qualcomm. In addition to the good news from domestic companies, Spain had a successful bond auction, and the price of oil seems to be rising due to increased U.S. demand. The market is rising on fundamental good news. Let’s hope we have follow through and the volume to go with it.

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