With Europe hogging all the headlines today the market started shaky but rebounded late to end in the black. Bookmark this for the latest.
Bespoke has a great post out today that is a must read citing earnings season thus far with the best and worst performers to date. Link.
Since the third quarter earnings season started on October 11th, 193 S&P 500 stocks have reported earnings. The average S&P 500 stock has averaged a decline of 0.21% on its earnings report day this season (for companies that report after the close, we use the next day’s change). This is surprising since the S&P 500 itself is up 4.15% over this time period, and it shows that earnings haven’t been driving the gains that we’ve seen.
A lot of this upside movement seems to be all due to speculation that Europe is going to be finalizing a big 1 yr+ band-aid here soon. We’ll see if the speculators are right.
One of the best wraps in the blogosphere.
I’m Polish reader your blog.Almoust each day. If you could look,sometimes, at polish WIG-20 and analise it, I woud be gratfull. You blog is popular in Poland. Polish look what Americans do but Americans look what in Europe is going to do. Hopefully
Thank you for the support C$D! I appreciate the kind words
RE Gregor while I would love to be able to highlight more market indices around the world I unfortunately just don’t have enough time. I am sorry as I will not be able to track this index. If you want me to do a one time analysis of it feel free to email me directly.