US stocks mount strong rebound on company earnings

[Omaha Steve]

Source: AP-Excite

By ALEX VEIGA

Investors jumped on a wave of strong corporate financial results Friday, propelling stocks higher for the third time in five days.

The gains wiped out much of the market's losses from the day before, when the downing of a Malaysian Airlines passenger jet in eastern Ukraine stirred concerns that tensions between Russia and the West could escalate. Israel's launch of a ground offensive into Gaza also stoked geopolitical uncertainty.

Those worries appeared to ease Friday, as world leaders called for an immediate cease-fire in the region and international attention turned toward the task of determining what led to the aircraft being shot down. Investors turned their attention to the latest encouraging company earnings.

"Typically when these events hit the news, it's kind of a sell-now, ask-questions-later moment, and then there is a reassessment, and that's exactly what we had," said Quincy Krosby, market strategist at Prudential Financial. "Today, the market focused again on earnings, which for the most part were good, surprising to the upside, and the markets just basically got back to their normal business."

FULL story at link.



Trader Dudley Devine, center, works on the floor of the New York Stock Exchange, Friday, July 18, 2014. U.S. stocks are opening higher after Google, Honeywell and other big companies report their quarterly results. (AP Photo/Richard Drew)


Read more: http://apnews.excite.com/article/20140718/us--wall_street-547b70575d.html

[AtheistCrusader]

1. Kind of depressing that such things weigh on corporate valuations.

That there's a link between children being blown to bits in the streets of another country, and a certain % valuation move on the price of a share of stock for apple or Pfizer, or whatever.

[Amonester]

3. Yep. God & Wars are always good for Capitalists

Bidne$$

[tom_kelly]

2. I've always viewed

the stock market as an indicator of how the wealthy are doing. I've seen reports that reflect the truth about this but they are few and far between. The stock market is NOT and indicator of an economy.

[Populist_Prole]

4. Same here. Good post

It's to the point now where if I hear that if XYZ Inc's stock jumped, my first assumption is that they must have downsized or off shored and layed off employees, or cut their wages.

The dow jones is a rotten metric for how good the citizens of this country are doing, as is the GDP ( which just basically measures every transaction and totals it )

[BadgerKid]

6. Stock values in part reflect sentiment

Toward the future. You might feel pretty good having a good chance to passively earn 10% for the year. Problem is, you've got many people thinking the same thing so people have bid up certain stocks. It's not real growth.

[DeSwiss]

5. Oh, good news for the 1%ers.

- Get yer raincoats out! Here comes the trickles!!! Whoop-de-fucking-do!