Daily Market Blog: Earnings central
"Profits from 79 percent of the S&P 500 companies thus far have exceeded expectations, 61 percent have beaten revenue expectations. Profits thus far for those S&P 500 companies that have reported have registered a 4 percent sales increase and a 5.9 percent increase in profitability, hardly earth shattering, more than acceptable however."
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To market, to market to buy a fat pig. Yowsers, another huge day upwards for equity markets which have bounced back hard in recent days. A couple of interesting factoids, firstly, as pointed out by Eddy Elfenbein on his twitter feed: "Earlier this year, the S&P 500 went 62 days without a 1% move. In the last 19 days, it's happened 10 times." That is very volatile and bound to put many in a great period of head scratching. A WSJ alert last evening puts it into perspective: