Simply matching earnings expectations, not surpassing them, has driven
With all of the bad news of the past, investors are quite desperate for good news and better returns, Fortune reports. They seem to be swallowing any evidence that the market is in for a sustained upswing. When the
Investors are in a deep state of denial,
But not everyone agrees with Roach, even Morgan Stanley strategist Byron Wien. With all of the Fed rate cuts, tax cuts and a weaker dollar, there is a great deal of room for an upswing, he said. "Theres a tremendous amount of fiscal and monetary stimulus out there. If the economy cant turn on all this, then Im willing to move to Mars," Wien said.
Whether one is bullish or bearish on the markets recent movement and earnings reports, Fortune concludes, one thing is for certain. If the market is to continue its upswing, then simply meeting earnings expectations will not be enough. There will have to be significant gains for the quarter and for the remainder of the year.
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The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.