Market watcher who predicted December plunge sees tide of gains from earnings
The market watcher who predicted the December plunge believes the new highs are sustainable. Ned Davis Research’s Ed Clissold cites a better-than-expected earnings seasonas a key factor in his bullish forecast.
Companies are crushing earnings estimates by 3-to-1 margin
Earnings from a diverse group of S&P 500 companies have been better-than-expected with better than normal gains. The better profits have helped eliminate fears of an earnings recession, and many analysts believe the first quarter is the trough. The S&P 500 rallied Tuesday, touching its all-time closing high of 2,930 in midday trading.
Stocks could have a quick surge from here, BlackRock’s Larry Fink says
“We have a risk of a melt-up, not a meltdown here. Despite where the markets are in equities, we have not seen money being put to work,” the head of the world’s largest asset manager tells CNBC.
Jamie Dimon says the US economic expansion ‘could go on for years’
According to J.P. Morgan Chase CEO Jamie Dimon, the economic expansion that began after the 2008 financial crisis has no expiration date.
U.S. labor market tightening; inflation pressures moderate
The number of Americans filing applications for unemployment benefits dropped to a 49-1/2-year low last week, pointing to sustained labor market strength that could temper expectations of a sharp slowdown in economic growth.
U.S. job growth rebounds in March, but wage gains moderate
U.S. employment growth accelerated from a 17-month low in March as milder weather boosted hiring in sectors like construction, which could further allay fears of an abrupt slowdown in economic activity in the first quarter.
Wall Street rallies on upbeat China, U.S. manufacturing data
U.S. stocks rallied on Monday, starting off the second quarter on a strong note, as upbeat manufacturing numbers from China and the United States eased worries about slowing global growth.
New home sales rise to 11-month high in February
Sales of new U.S. single-family homes increased to an 11-month high in February and sales for January were revised higher, suggesting that lower mortgage rates were starting to lift the struggling housing market.
Despite slowdown fears, US stocks still seen as best bet on the globe
Things might look a little gloomy in the world’s biggest economy, with slowing earnings growth and recession fears in the bond market, but stocks are still holding up just fine.