Stocks End Higher, Extending Last Week's Rally Image: Bigstock Stocks closed solidly higher yesterday, extending last week's impressive rally. Even since the market's key upside reversal day on October 13th, stocks have been on a tear. And there's plenty of speculation that we could very well have seen THE bottom. Earnings season kicks into gear this week with a total of 1,015 companies set to report. Today alone we'll get 193 companies. That includes marquee names like General Electric (they report before the open), Coca-Cola (before the open), and United Parcel Service (before the open). After the close we'll hear from Microsoft, Alphabet (aka Google), and Texas Instruments, to name a few. Tomorrow, we'll get 295 companies on deck, with names like Meta (aka Facebook), Boeing, Ford, and Bristol Myers Squibb. Earnings season is off to a solid start so far. And stocks are responding. Not surprised given how oversold stocks were. And corporate earnings have continued to be a bright spot in the economy. Doesn't hurt that stocks typically go up during earnings season either. Or that Q4 is the best quarter for stocks. Either way, there's lots of tailwinds in the market right now. And after 3 down quarters in a row, the market is due for a solid rally. Today we'll get another look at the economy with the Case-Shiller Home Price Index, the FHFA House Price Index, Consumer Confidence, and the Richmond Fed Manufacturing Index. And we'll see if the market can further add to their gains. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research |
Post a Comment
Post a Comment